Online food ordering giant Just-Eat gobbles up $64 million in new funding

Online food ordering giant Just-Eat gobbles up $64 million in new funding

UK-headquartered food ordering service Just-Eat has raised $64 million in fresh funding, led by European private equity firm Vitruvian, which will help fund its continued expansion into new markets.

The funding is the company’s largest ever round (and third in total) and it also saw Index Ventures, Greylock Partners and Redpoint Ventures participate. The announcement comes less than a week after Just-Eat acquired rival, the UK’s third largest online takeaway site, and it shows the site’s aggressive plans to expand.

Commenting on the deal, Klaus Nyengaard, CEO of Just-Eat, explained that the investment will push the business forward into new countries and help diversify its services:

This new investment will help our continued expansion. Takeaway e-commerce has massive growth potential, and Just-Eat is at the forefront of changing the way people order food around the world. Vitruvian Partners has a long history of investing in the brightest mid-market businesses and taking them to the next level and we’re very excited it will be joining us as our new partner. This investment is also a sign of trust in all the smart and hardworking people in our company.

Mike Risman, managing partner at Vitruvian Partners, lauded Just-Eat as “already being the world’s biggest takeaway e-commerce provider” with the potential to grow for “many years to come”.

Just-Eat already provides its services in 13 countries around the world, offering customers a choice of 20,000 takeaway restaurants via its website. The acquisition of saw it add another 1,400 UK restaurant partners to its service.

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