Deliveroo 180m durable capital partners 7b bradshaw, the UK-based food delivery company, has recently secured $180 million in funding from Durable Capital Partners and Fidelity Management & Research Company. This brings the total amount raised by the company to $1.5 billion. The latest funding round comes as Deliveroo prepares to go public with a valuation of around $7 billion. In this article, we will take a closer look at the recent funding round and what it means for Deliveroo.
Deliveroo has been expanding rapidly in recent years, and the COVID-19 pandemic has only accelerated this growth. The company has seen a surge in demand for its services as more people have been ordering food online due to lockdowns and social distancing measures. This has led to a significant increase in revenue for Deliveroo, which reported a 64% increase in gross transaction value in 2020. The latest funding round is a clear indication of investor confidence in Deliveroo’s business model and growth potential.
Durable Capital Partners, which led the funding round, known for investing in companies with strong growth prospects. The firm’s founder, Henry Ellenbogen, said in a statement that Deliveroo is “well-positioned to build on its strong market position and continue to innovate for customers.” One of the key areas where Deliveroo has been investing heavily is technology. The company has been developing its own proprietary technology platform, which it says will enable it to provide a better customer experience and improve efficiency. Deliveroo has also been expanding its delivery network, partnering with more restaurants and hiring more riders.
Overall, the recent funding round is a positive development for Deliveroo as it prepares to go public. The company has growing rapidly and has a strong market position in the UK and other countries where it operates. With the additional funding, Deliveroo will be able to invest further in technology and expand its delivery network. Which should help it to maintain its competitive edge in the food delivery market.