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Sunday, June 13, 2021

A new financing round raises the value of “Delivery Hero” to $ 7 billion

Deliveroo Hero raised more than $ 180 million in its most recent financing round, valuing Britain’s online food delivery company more than $ 7 billion, according to the company statement.

The funding round comes as the Amazon-backed company is looking at a possible listing on the stock exchange this year, which is expected in or soon after April.

Deliveroo Hero’s new financing round, led by current shareholders, Durable Capital Partners, and Fidelity Management, links the startup’s valuation on par with the market value of British grocery company Sainsbury’s, and surpasses the market value of W.M. Morrison Supermarkets.

Due to closures restricting the movement of people, and consumers demanding fast food and food for the home, food delivery companies such as “Deliveroo” and “Just Eat Take Away” have seen a boom in their business.

But despite the high demand, competition for market share is still fierce, as Delivery Hero recently raised up to $ 1.6 billion through a share sale to fund potential expansions and deals, while Just Eat Take Away makes investments. Large, “according to the latest information surrounding its business.

Delivery Hero confirmed that it will continue to invest heavily in its business, including expanding its on-demand grocery service and Editions dark kitchen concept.

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