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Demonetisation: Foodpanda Says Orders Increased 40 to 50 Percent

Demonetisation: Foodpanda Says Orders Increased 40 to 50 Percent

By Indo-Asian News Service | Updated: 9 December 2016 15:48 IST

Online marketplace for food delivery Foodpanda earned a revenue of Rs. 37.81 crores in the financial year 2015-16 - a whopping 800 percent increase - as compared to 4.7 crores in the previous financial year, the company said on Friday, adding that it saw a 40 to 50 percent spike in the order numbers during the demonetisation phase.

"We have not only registered 800 percent growth but have also become operationally profitable in both our business lines - marketplace and delivery," said Saurabh Kochhar, CEO Foodpanda India.

(Also see: Foodpanda India CEO on New Hygiene Rating, Automation, and Profitability)

At present, 40 percent of the orders are delivered by Foodpanda delivery services and the remaining 60 percent are delivered by restaurants which is a leap from December 2015 when only 25 percent of the orders were delivered by the company delivery services, the company said.

The company has raised $310 million so far, with the last round in 2015 bringing in $110 million from investors led by hedge fund Goldman Sachs Investment Partners.

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