Deliveroo raises $575m Series G funding

20th May 2019 (Last Updated May 21st, 2019 11:49)

UK-based food delivery app company Deliveroo has raised $575m in a Series G preferred shared funding with Amazon as the largest investor.

Deliveroo raises $575m Series G funding
Deliveroo will use the funding to enhance its food delivery services to offer convenience to customers. Credit: Deliveroo.

UK-based food delivery app company Deliveroo has raised $575m in a Series G preferred shared funding with Amazon as the largest investor.

Other investors who participated in the funding round include T Rowe Price, Fidelity Management and Research, and Greenoaks.

The investment takes the total funding raised by the delivery firm to $1.53bn to date.

Deliveroo will use funding to enhance its food delivery services to offer convenience to customers, offer more work for riders, and help restaurants expand their businesses by reaching new customers.

In addition, the British firm will focus on growing its London headquarters’ engineering team by creating high-skilled jobs, expand its reach to additional markets for customers, introduce innovations using delivery-only super kitchens ‘Editions’, and other new formats enabling restaurants to expand to new areas.

The company will also offer more personalised experience to customers by developing new products, increased support for restaurant partners, and new tools to riders to allow them to work with ease.

Deliveroo founder and CEO Will Shu said: “This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders.

“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation.

“This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate.”

“It will help to create jobs in all of the countries in which we operate.”

The Series G funding round is currently subject to customary regulatory approvals and is expected to close in the coming months.

Established in 2013, Deliveroo currently serves customers across 500 cities in 14 countries with more than 60,000 riders and from over 80,000 restaurants and takeaways.

In November last year, the online food delivery firm expanded further into Australia to reach an additional 1.5 million customers.