Foodpanda logs massive growth in 2015-16

Online marketplace for food delivery Foodpanda earned a revenue of Rs 37.81 crore in the financial year 2015-16 -- a whopping 800 per cent increase -- as compared to 4.7 crore in the previous financial year, the company said on Friday, adding that it saw a 40-50 per cent spike in the order numbers during the demonetisation phase.

"We have not only registered 800 per cent growth but have also become operationally profitable in both our business lines -- marketplace and delivery," said Saurabh Kochhar, CEO Foodpanda India.

At present, 40 per cent of the orders are delivered by Foodpanda delivery services and the remaining 60 per cent are delivered by restaurants which is a leap from December 2015 when only 25 per cent of the orders were delivered by the company delivery services, the company said.

The company has raised $310 million so far, with the last round in 2015 bringing in $110 million from investors led by hedge fund Goldman Sachs Investment Partners.

--IANS

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