Foodpanda, the global mobile food delivery marketplace, is targetting to expand its foothold in India by enlarging its umbrella of partnered number of restaurants by the end of this year.
Currently, the company is operating across 200 cities and partners with 12,000 restaurants. It hopes to increase the number of restaurants to 20,000. Foodpanda also announced a new financing round of USD 100 million led by Goldman Sachs.
The investment will reportedly be used to expand the company’s own food delivery services, which was launched recently, in order to provide a seamless experience to its customers. “We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in emerging markets targeting over three billion consumers. The emerging markets represent the largest opportunity in online food delivery and we are committed to create the most convenient way for ordering and delivering food.” Ralf Wenzel, Co-Founder and CEO of Foodpanda was quoted as saying.
As per reports, the company has already clocked 20 per cent growth in orders and are hoping to escalate this figure to 60-70 per cent by next year.
The company aims at augmenting customers’ engagement with foodpanda and deliver to a larger set of partners, by going that extra mile from the online stage of ordering to actual delivery at the consumer’s doorstep.
O3 Capital is supporting foodpanda during the current fund-raising process for foodpanda India
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