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The company started its operations in 2012 and since then has expanded to forty five countries. It also recently acquired competitor Delivery Club, making it one of the leading food delivery marketplace in Russia. Since its inception the company has raised about $100 million in various rounds of funding.
Founded by Rohit Chadda and Vijayendra Singh the company employs about hundred people in India. Foodpanda stands differentiated from the likes of Zomato.com as consumers can place an order and pay online, unlike others which are in the listing business. The company earns its revenues by charging commission on every order.
"The fresh round of capital investment is a testament of investor confidence and an acknowledgement of our successful business model. We plan to use these funds to further consolidate our position as the market leader and continue our growth in the existing markets while further improving our customer experience," said Rohit Chadda, MD and Co-Founder, foodpanda.in.
Present in over 35 cities listing over four thousand restaurants, the company reaches out to the food chains through its sales team. "Not everyone can list on the website," said Chadda. Though the company refused to divulge details about the commission it charges, industry experts say that food is a high margin business where commission can range from 10-20 per cent.
In 2013, foodpanda had secured more than $20 Million funding from Phenomen Ventures and Investment AB Kinnevik, and $8 million from iMENA Holdings. In February 2014 Phenomen Ventures along with other investors put in another $20 million into the company.
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