Delivery Hero, the online take-out ordering service founded by startup factory Team Europe, has raised a hefty $50 million Series D led by Kite Ventures, a previous backer of the company, while Kreos Capital also joins this latest round.
This brings Delivery Hero’s total funding to approximately $100m and comes hot on the heels of its biggest rival, Just-Eat, raising an additional $64 million from Vitruvian Partners, Index Ventures, Greylock Partners and Redpoint Ventures, bringing its total funding to a whopping $129.4m. It seems that the war of the take-outs is well and truly underway.
Both companies appear to be following a similar strategy to be a global player and to scale aggressively as the appetite for convenience food coupled with the convenience of online ordering doesn’t seem to be fading.
Delivery Hero claims a network of 22,000 restaurants and operates in 11 countries: Germany, UK, Australia, Sweden, Finland, Korea, Russia, Poland, Austria, Switzerland and Mexico.
Meanwhile, Just-Eat operates in 13 countries, which it says makes it the “world’s biggest takeaway e-commerce provider” — so make of that what you will.
Specifically, Berlin-headquartered Delivery Hero says it will use the new funds to fuel growth and that this will include acquisitions — a continuation of its existing strategy.
In a canned statement, Lukasz Gadowski, partner at Team Europe, presses home the point: “Kite Ventures and the other investors remain focused on the long-term strategy. But they also know that Delivery Hero is knocking on the door of global domination, so they want to keep the pace.”
Global domination it is then, although no doubt European rival Just-Eat will have something to say about that.
Delivery Hero is a global network of online food ordering marketplaces. Founded in 2010 Delivery Hero is on a global mission to provide better food to the people while empowering local businesses world wide.
Just-Eat.co.uk provide a smart and simple way to order takeaway food online from a variety of local restaurants and fast food joints across the UK. Ordering Chinese takeaway, Pizza, Sushi, Mexican Food or Thai food is simplified by the company’s easy to use website interface. After entering their UK postcode, customers are shown a list of all participating restaurants and food delivery places in their local area. Food can be ordered with a few clicks, payment is made...
Team Europe builds Internet companies. The Berlin-based incubator has international reach and a current portfolio of 10 companies it has built from scratch. The partners at Team Europe have founded or invested in a number of very successful Internet companies along the way, including spreadshirt, studiVZ and brands4friends.
Kite Ventures is a technology investment company with a number of successful Internet investments in Russia and Europe, including SponsorPay, Zeptolab, Tradeshift, Delivery Hero, Darberry, etc.
Kreos Capital is Europe’s largest and leading provider of specialty finance to growth companies from early- to late-stage. Since 1998, as the first provider of this kind of financing dedicated to early- to late-stage companies across Europe and Israel, Kreos has adapted the experience of the US model to the European market. Having completed over 250 transactions and committing over $1 billion in 15 countries across Europe and in Israel, Kreos has a proven track record of helping portfolio...