The Berlin based online food delivery business, Foodpanda, was able to obtain a US$20 million additional funding as reported by Reuters. The financial infusion round was headed by Phenomen Ventures and Investment AB Kinnevik. Foodpanda will allot the additional finances for the global expansion of its delivery service, further aiming to be the foremost worldwide service on food delivery.
In recent months, Foodpanda together with its associated brand hellofood it was able to penetrate fifteen new countries and it is now available in twenty seven markets. It operates like GrubHub or Seemless where the clients will enter the city and check the available choices of delivery in the area or region. Prior to placement of the order,
customers can see the service rating, calculated time of deliver and fees and go over the menu. This particular service being offered by Foodpanda is not only beneficial for the customers but also for the restaurants themselves. This service gives restaurant owners an edge on expanding their services and revenue stream. Foodpanda is not alone in this service flatform. Just-Eat that is based in London and Delivery Hero who is also based in Berlin are the few competitors of Foodpanda.
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