Arabnet Arabnet

Berlin-based HelloFood, also known as FoodPanda, a leading global online food delivery marketplace, has received new investment round led by Goldman Sachs worth $100 million, which brings the total rounds raised for HelloFood since its launch in 2012 to $310 million. One of the investments in October was led by Mobily Ventures, and another one worth $8 million was led by iMENA back in September. The company did not reveal its current valuation.

Existing investors including Rocket Internet also participated in the round, as announced by the company. Now Goldman Sachs Investment Partners will join the food company’s advisory board.

Hellofood recently acquired key competitors in an expansion move to Russia, India, South-East Asia, Brazil, Mexico, and Eastern Europe. The new investment will help the company to expand even further, and optimize overall customer experience across its 40 markets — where they are active in more than 580 cities in 5 continents, and are partners with over 60,000 restaurants.

Those figures are a direct result of a major acquisition binge that saw Rocket Internet acquire nine other food delivery startups across the world, including Talabat.com; which it acquired for $170 million. HelloFood are setting themselves up for future growth and opportunities.

Ralf Wenzel, Co-Founder and CEO of HelloFood said: “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 3 billion consumers.“

Ian Friedman, VP at Goldman Sachs, said: "We have been impressed by both the growth trajectory and high-quality management team of HelloFood. We believe that Foodpanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years.”

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