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Foodpanda's parent Delivery Hero raises $431.45 million from Naspers

Foodpanda runs both marketplace and the delivery business for its partner restaurants in India. It currently works with over 12,000 restaurants across 100 cities in India

May 22, 2017 / 07:06 PM IST

Food ordering firm Foodpanda on Monday said that South Africa's Naspers is investing USD 431.45 million into its parent company Delivery Hero.

The investment will happen primarily into newly issued shares and at a valuation in line with Delivery previous valuation. According to media reports, Delivery Hero was valued at 2.8 billion euros during its last round in June.

This investment will help fuel Foodpanda fuel growth plans and strengthen India position, the company said in a statement. However, there was no clarity on the amount of investment Delivery will make in Foodpanda's India business, through this fund.

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