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foodpanda receives further investment funds

Released at: 08:37, 08/05/2015

foodpanda receives further investment funds

Latest funding part of original $110 million investment package.

by Hoai An

foodpanda Vietnam has received another part of an investment package worth $110 million, including a sum from a new investor: Goldman Sachs. Existing investors, including Rocket Internet, also contributed to the package.

“We are delighted to receive this additional funding, which provides opportunities for foodpanda to access new markets in Vietnam and focus on developing the best experience for our customers,” Head of Marketing at foodpanda Vietnam, Domitille de Laguierce said. “As a market with great potential, we are pushing the development of high-tech interactive client applications in Vietnam.”

With part of the $110 million total received on March 2015 and now this latest funding, foodpanda Vietnam aims to expand its independent distribution network and become the first online food ordering service to have its own delivery system in Vietnam. The company will create a “last-mile delivery” model, to enable customers to receive excellent service in their online food ordering experience.

foodpanda is a global food online ordering organization that entered Vietnam in 2012 after establishing itself in over 40 countries worldwide. It is connected to more than 1,000 restaurants in Vietnam, including well-known brands such as Baskin Robbins, Burger King, Al Fresco’s, and KFC.

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