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Food delivery service Deliveroo raises $275 mln in fresh funding
August 5, 2016 / 12:24 PM / a year ago

Food delivery service Deliveroo raises $275 mln in fresh funding

FRANKFURT, Aug 5 (Reuters) - Food delivery service Deliveroo said on Friday it had raised $275 million (209 million pounds) in fresh funding from new and existing venture backers, marking one of the few start-ups still managing to raise funding in the highly competitive market.

The London-based company active in 12 countries across Europe, Asia and the Middle East, said the new financing was led by experienced restaurant investor Bridgepoint, existing investor DST Global and General Catalyst. Existing investor Greenoaks Capital also took part.

The company said in a statement that the gross merchandise value of food deliveries sold over its platform had grown 400 percent since it took its last round of investment in November. It said the company was now profitable in an unspecified number of markets in which it now operates.

The new funds will be used for geographic expansion in new and existing markets, as well as to provide further investment in projects such as RooBox, which gives restaurants access to centralised kitchen space to support increased demand which cannot be covered by kitchen space in their own restaurants. (1 British pound = $1.3160) (Reporting By Eric Auchard; Editing by Harro ten Wolde)

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