HungryPanda, a NYC-based overseas Asian food delivery platform, closed a $55m refinancing and fundraise.
The round was led by Mars Growth Capital, a JV between Liquidity Group and MUFG, with continued support from existing investors, including Perwyn, Kinnevik, 83North, and Felix.
The company intends to use the funds to consolidate its leadership in the Asian food delivery market and explore new opportunities to serve a broader range of minority ethnic communities, particularly in North America.
Founded in 2017 by Eric Liu CEO, HungryPanda has established itself as a global leader in Asian food delivery, operating in over 80 cities across 10 countries, serving more than 6.5 million users in partnership with over 100,000 merchants. In 2021, the company raised $130m in Series D to expand into new markets and explore mergers and acquisitions. To date, HungryPanda has raised over $275m in funding and has entered a new phase of business growth. In 2024, HungryPanda achieved profitability while maintaining an annual growth rate of over 30%—a remarkable achievement in the competitive food delivery industry.
Currently, the company works with over 80,000 riders.
FinSMEs
30/09/2024