Deliveroo will kit out kitchens to reach new areas
Published 06/08/2016 | 02:30
Deliveroo, a smartphone app for ordering takeaways, has raised $275m (€247.8m) to fuel growth and challenge competitors.
The money will fund expansion, including two RooBox 'pop up' style kitchens planned for Dublin where the company says it will partner with local food outlets by providing fully equipped kitchens in areas badly served by local takeaway options.
Deliveroo's focus on affluent diners means two sites in south Dublin are under consideration.
The business was founded in 2013 and has become one of the top delivery services in Europe, with its kangaroo logo visible on car and bike-riding couriers in Dublin, Cork Limerick and Galway as well as the likes of London and Paris.
The latest fundraising deal values Deliveroo at more than $1bn, according to a source.
Deliveroo's model is to partner with existing restaurants in the cities it enters, hiring freelance contractors to deliver the food and connecting outlets, customers and couriers using smartphone apps.
The company charges restaurants a fee for handling their delivery service, while self employed couriers are paid an hourly rate plus a fee per delivery.
In Europe, Deliveroo is competing with Just Eat, another UK-based company, ride share service Uber, which has been expanding in to the sector; and Delivery Hero.