Berlin-based foodpanda/hellofoods, a leading global online food delivery marketplace, has received new financing of $100 million.

The financing was led by Goldman Sachs, while existing investors including Rocket Internet also participated, said a statement from the company.

As part of the financing round, Goldman Sachs Investment Partners will join the advisory board of hellofood/foodpanda, it added.
 
Following its acquisition of Dubai-based food online delivery portal ‘24h’, the company will use its recent investment to further expand its own delivery activities and improve overall customer experience in the countries in which it operates.

Last-mile delivery has been part of hellofood’s operations in Saudi Arabia since 2014, it will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food – from the mobile app and online, it further added.

Beschir Hussain, co-founder of hellofood Middle East, said: “We are very happy about the recent support from Goldman Sachs Investment Partners.

“Together with our renowned group of investors we are committed to create the most convenient way of ordering and delivering food in the Middle East. This investment will help us to scale our last-mile delivery operations and thus control a larger part of the online food ordering experience,” he added.

Ian Friedman, vice president at Goldman Sachs, said: "We have been impressed by both the growth trajectory and high-quality management team of foodpanda.

“We believe that foodpanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years. It is our expectation that the company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operate,” he added. – TradeArabia News Service