Asian food delivery service platform Fantuan Delivery has announced the acquisition of the Chowbus food delivery business.
The financial details of the transaction have not been disclosed.
Go deeper with GlobalData
Chowbus, founded in 2016 in Chicago, US, had expanded its delivery service to more than 20 cities by 2020.
In 2022, while maintaining high profitability in its delivery business, Chowbus entered the SaaS [software-as-a-service] market and began offering restaurant management software and POS [point of sale] services.
Chowbus founder and CEO Linxin Wen said: “Chowbus’s vision is to assist North American restaurants, especially those owned by newcomers to the country, who generally need help with technology and marketing.
See Also:
“Starting with food delivery and progressing to developing our SaaS and POS systems, our end goal remains the same – to offer extensive services and technologies to restaurants.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“With the rapid growth of the restaurant SaaS business line, we want to focus and develop better products and services for merchants. We are confident that our partnership with Fantuan will provide improved and expanded services for merchants across food delivery, restaurant SaaS systems and beyond.”
The deal will see Chowbus concentrate on the development and optimisation of its SaaS and POS offerings.
Fantuan, established in Vancouver, Canada in 2014, has expanded its operations to more than 60 cities across the US, Canada, Australia and the UK.
The company has broadened its service offerings beyond food delivery to include fresh grocery delivery and dine-in services.
Fantuan founder and CEO Randy Wu said: “This strategic acquisition marks a close collaboration between Fantuan and Chowbus, optimising resources for users, merchants and delivery drivers.
“It will further extend Fantuan’s advantage as a leader in the US Asian delivery market, enriching our portfolio with more restaurants and users. Together, Fantuan and Chowbus will actively promote Asian food culture, offering users more delicious selections.
“At the same time, we will collaborate with even more mom-and-pop restaurants and Asian-owned businesses and provide a more comprehensive back-of-house solution for merchants.”
In December 2023, Fantuan Delivery raised $40m in a Series C funding round co-led by US-based fresh grocery e-commerce platform GrubMarket and Celtic House Asia Partners, Fantuan’s seed round lead investor.
Other participants included VisionPlus Capital and JSD Capital, along with backers from North America and China.
