Delivery Hero, one of the world’s largest providers of online and mobile food ordering, today announced a new funding round of roughly $350 million. The round was led by existing investors like Insight Venture Partners and Kite Ventures, and Vostok Nafta joined the round as new investor. The new round of capital brings the overall investment in Delivery Hero to over $635 million. Not bad for a young Berlin-based company.
Delivery Hero will primarily use the funds to invest in its existing markets, including the UK and Germany, and to further fuel its international growth. About three weeks ago Delivery Hero announced the full take-over of German market leader pizza.de. Probably a few million from this latest funding round have also been allocated for this acquisition.
Using prior investments, the company currently provides ordering capability for more than 75,000 restaurants in 23 countries across five continents, including Germany, the UK, Sweden, Korea, China and India. Delivery Hero’s restaurant partners generate more than one billion dollars in annual sales via online orders or mobile applications, and deliver more than 10 million meals every month.
Niklas Östberg, the CEO of Delivery Hero, commented: “We warmly welcome Vostok Nafta as a new investor and at the same time we continue to appreciate the overwhelming trust our existing investors have in our business. Our growth rate of approximately 100% year-on-year underscores our confidence that we are on the right track to realize our ambitious vision for an amazing food ordering service all over the world. In a few of our markets we haven’t reached market leadership yet and we will use this investment to achieve our goal of becoming the clear number one in each market we operate in.”
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