foodpanda raises USD 431.45 million from Naspers

New Delhi [India], May 22 : Online marketplace for food delivery foodpanda on Monday announced receiving of investment worth USD 431.45 million from global internet and entertainment group Naspers into its parent company Delivery Hero.

This received investment is aimed at fueling foodpanda's growth plans and strengthen its marketplace in India.

"We recently launched the India app and have made significant investments in technology and delivery ecosystem as we constantly look to strengthen and enhance our food ordering and delivery experience," said CEO foodpanda India, Saurabh Kochhar.

With this development, Naspers will also be represented with one member on Delivery Hero's Supervisory Board.

"We are delighted to welcome such a renowned and strong investor with a proven track record in building successful platforms around the world.

Naspers' capital and knowhow will support our growth momentum as we continue to focus on creating an amazing takeaway experience," said CEO of Delivery Hero, Niklas Ostberg.

Adding to this, CEO Naspers, Bob van Dijk said that food ordering and delivery presents an attractive opportunity for us.

It is a large, underpenetrated, and growing market with potential for success across a broad range of geographies that Naspers knows well.

"Delivery Hero has already achieved significant traction in some markets, but we believe that the vast majority of high-growth markets are at the beginning of the opportunity cycle," added Dijk.

Source: ANI