Europe’s largest food delivery business Delivery Hero has announced a huge new round of funding valued around $350 million. The round is led by existing investors Insight Venture Partners and Kite Ventures as well as a new investor, Vostok Nafta, who can be best remembered with its latest $150 million investment in GetTaxi last August.
This latest funding has increased the total financing raised so far by Delivery Hero to over $635 million. Company says the new capital will be used mostly in existing markets, including the UK and Germany, to further fuel international growth and to expand its position. Delivery Hero has acquired German market leader pizza.de last month.
The company currently hosts over 75K restaurants in 23 countries across five continents, delivering over 10 million meals every month and generating more than 1 billion dollars in annual sales via online orders or mobile applications.
Niklas Östberg, CEO of Delivery Hero, said the company grows approximately 100% year-on-year and there are only a few markets left in the world where Delivery Hero has not yet declared its leadership. He said “We will use this investment to achieve our goal of becoming the clear number one in each market we operate in.”