Deliveroo Raises $70million
Deliveroo is one of the latest start-ups in the food delivery sector, targeting upmarket restaurants and corporations in the city of London. The company has raised $70m (£45m) in funding in order to expand internationally and stand up against rivals such as Just Eat and Hungry House.
The company has gained backing from names such as Spotify, and Index Ventures (the firm behind ASOS, Etsy, and Just Eat). The new funds will enable Deliveroo to extend it’s reach across Europe, Middle East and Asia.
“We’re committed to building our team of passionate drivers, offering restaurants a new revenue stream and helping more customers around the world discover and enjoy great local food with an unparalleled level of convenience.” William Shu, co-founder and chief executive.
In the coming months it will be interesting to see how Just Eat and Hungry House are affected by Deliveroo’s growth. You can find out details of this new development at The Telegraph.