Delivery Hero raises $110mn in latest round of funding

Takeaway food ordering service Delivery Hero has just passed the investment hat around pre-IPO, achieving a funding total of $110 million (£72 million) worth of financing.

TechCrunch spotted the investment, but couldn’t get any names concerning who put the money up – Delivery Hero would only say that they were two leading public market investors from America.

Delivery Hero said in a press statement that it is now valued at over $3.1 billion ($2.05 billion) following this latest round of investment. The firm’s overall primary equity investment now stands at $1 billion (£660 million).

The company says it will use the latest dollop of money to further innovate with its products and to make acquisitions.

Niklas Östberg, chief executive of Delivery Hero, commented: “We are delighted to further strengthen our investor base with two first-rate public market funds sharing our long-term vision of transforming the online food ordering industry.”

Delivery Hero says it is currently the market leader in no less than 30 countries worldwide, and it has a network of over 200,000 restaurants, with in excess of 10 million orders processed every month.

There are no plans for an IPO this year, though. Östberg told TechCrunch: “We will not be able to share investors and also not when we will IPO. Our view is that we will be prepared later this year but will wait until we see a clear benefit from it.

“Right now we enjoy the benefits of being private. We have the same financial backing as our public peers while being able to act very long term. This makes us the worst possible competitor you can have. Therefore no plans to IPO in 2015.”