Takeaway.com, one of world’s top three online food ordering websites and parent company of German food delivery service lieferservice.de, today announced a 13 million euro investment from leading venture capital firm Prime Ventures. The firm’s managing partner Sake Bosch says the funding will support Takeaway’s aims to expand internationally. “Supported by great momentum, a very scalable business model, and a significant investment from our fund, we are convinced that the company will become the category leader,” Bosch said in a press release today.
Since its founding in 2000, the Netherlands-based company has generated over 100 million euros in annual order revenues, partnering with 9,000 restaurants worldwide in ten European countries. The company was the first to implement innovative features to its service such as a mobile ordering application and the award-winning Food Tracker™, a feature allowing customers to track the status of their order.
Founder and CEO Jitse Groen cites other advantages accompanying the investment: “We are thrilled to have Prime Ventures on board as they bring more than capital alone. Prime supports the expansion of the organisation and has, among other things, helped to bring on board Brent Wissink as Chief Operating Officer.”
The funding adds competition as well as confidence to the European online food delivery market, with several competitors enacting international roll-outs this year. As restaurants continue to realize the power of online lead generation and more consumers seek hassle-free home-dining options, investors are taking notice. Takeaway competitor London-based Just-Eat received $48m of funding in March from Greylock Partners and Redpoint Ventures. Berlin-based duo Lieferheld and Delivery Hero received an 8 million euro round of funding in November. “Takeaway has built a great business in the Netherlands over the last years,” said Delivery Hero CEO Niklas Östberg in an interview with VentureVillage today, “Their financing is another confirmation of the scalability of the model and will drive the channel switch from offline to online further.”
For Takeaway, Prime Ventures’s investment is the first. It has so far been able to reach its competition position – as market leader in Holland and Belgium – without external funding. “Online Food Ordering is growing strongly across Europe,” comments Lieferheld CEO Fabian Siegel. “Jitse has built a great franchise in the Netherlands and is in fierce competition with Just-Eat. He will need the money to stay in the game.”