UK Deliveroo Raises $ 180 Million From Investors Valued At $ 7 Billion

LONDON (Reuters) – UK food delivery company Deliveroo said on Sunday it had raised an additional $ 180 million from existing investors, including minority shareholder Amazon, in a measure that values ​​the company at more of $ 7 billion.

Deliveroo is expected to hold an IPO in the coming months, as part of what would be London’s biggest new share issue in three years.

“This investment will help us continue to innovate, develop new technological tools to support restaurants, provide more work for customers and expand customer choice,” said Will Shu, Founder and CEO of Deliveroo.

Britain’s competition regulator approved Amazon’s May 2019 purchase of a 16% stake in Deliveroo in August, overturning objections from local competitors Just Eat Takeaway and Domino’s Pizza.

The internet giant’s participation is unlikely to increase due to its participation in the latest round of fundraising, led by US investors Durable Capital Partners and Fidelity Management & Research.

Deliveroo operates in 12 countries, mainly in Western Europe but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It did not indicate how much each investor contributed in the last funding round.

The company said it would spend the $ 180 million to expand delivery-only kitchen sites, on-demand grocery deliveries and subscription services, as well as allow more restaurants to take orders. through their own websites.