Hellofood – hungry for growth
Global online food ordering service receives $8 million investment
September 10, 2013 5:41 by Muhammad Aldalou
Hellofood.com will soon expand its operations into various countries across the Middle East region, with the help of $8 million worth of investment from iMENA Holdings.
The regional group of ‘consumer online businesses’ in the Mena region has forged a partnership with Rocket Internet, the world’s largest internet incubator, to drive the expansion of the ‘global online food ordering service’ beyond its current regional operations in Saudi Arabia.
According to a statement yesterday, Hellofood reaches approximately three billion people worldwide and allows users in each market to order different cuisines from hundreds of restaurants.
The platform currently operates in 28 countries across Latin America, Asia, Central and Eastern Europe and the Middle East.
Adey Salamin, iMENA’s co-founder and CEO, says: “As a result of this new partnership, we will be rolling out Hellofood across various countries in the Middle East region, to address the demand for an efficient and quick food order and delivery service in the region.”
Globally, Hellofood (also known as Foodpanda in other markets) has received investments of more than $20m from a group of investors, including Investment AB Kinnevik and Phenomen Ventures.
With the partnership in place, restaurants across the region will have the opportunity to benefit from the growth of the online consumer industry, the statement adds.
Eyad AlKassar, founder and managing director of Rocket Internet in the Middle East, says that the region is “bursting” with online businesses, many of which have the potential to be the “next success story of the year”.
He adds: “Our commitment to building winning ventures and iMENA’s commitment to capturing the hyper-growth phase of the consumer internet industry, makes this partnership a surefire winning combination.”
While Hellofood has gained traction across international markets, the company is likely to face competition from regionally established online platforms, such as the Turkish company, Foodonclick.com, which has more than 800 listed restaurants and 40,000 users in the UAE.