UK Start-Up Deliveroo Raises £66m For Overseas Expansion
Investment will see Deliveroo launch in five new cities across the globe
London-based start-up Deliveroo, which delivers meals from some of the country’s leading restaurants, has raised $100 million (£66 million) in funding as it looks to expand into other countries..
Total investment in Deliveroo has now increased to approximately $200 million (£132 million) and is thought to value the company at around $600 million (£397m).
Strong growth
“We’ve demonstrated extremely strong growth since inception,” Will Shu, Deliveroo’s co-founder and chief executive, told the Financial Times. “Investors have been impressed by that.”
The investment will now help Deliveroo expand to Hong Kong, Singapore, Melbourne, Sydney and Dubai, meaning that it will be active in 50 cities across 12 countries, working with over 5,000 restaurants worldwide.
The company, which is headquartered in London, was formed by Shu in 2012, and offers deliveries from restaurants such as Rossopomodoro, Gourmet Burger Kitchen, and Ping Pong.
Deliveroo is the latest in a series of UK start-ups to strike it big regarding investment, and its growth helps solidify London as the centre of the nation’s start-up economy.
However data released last week showed that shows how high rents are forcing many companies to move away from the capital’s Silicon Roundabout area and out across the city.
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