foodpanda raises € 387 million from Naspers

foodpanda, India’s leading online marketplace for food delivery has shared that Naspers, a global Internet and entertainment group and one of the world’s largest technology investors, is investing EUR 387 million (US $431.45 million) into parent company Delivery Hero, primarily into newly issued shares and at a valuation in line with Delivery Hero’s previous valuation.This investment will help fuel foodpanda fuel growth plans and strengthen India position.
On the announcement, CEO, foodpanda India, Saurabh Kochhar said, “We are constantly looking to strengthen and enhance our food ordering and delivery experience. We recently launched the India app and have made significant investments in technology and delivery ecosystem. This funding will help further our goals in making the foodpanda experience impeccable, for each of our customer. ”
With this development, Naspers will also be represented with one member on Delivery Hero‘s Supervisory Board. CEO of Delivery Hero, Niklas Östberg, said: “We are delighted to welcome such a renowned and strong investor with a proven track record in building successful platforms around the world. Naspers’ capital and knowhow will support our growth momentum as we continue to focus on creating an amazing takeaway experience.”
CEO of Naspers, Bob van Dijk said, “Food ordering and delivery presents an attractive opportunity for us. It is a large, underpenetrated, and growing market with potential for success across a broad range of geographies that Naspers knows well. Delivery Hero has already achieved significant traction in some markets, but we believe that the vast majority of high-growth markets are at the beginning of the opportunity cycle.”