Food delivery startup Foodpanda announced on Monday that it will make Singapore its headquarters in Asia and spruce up recruitment as it looks to expand its business in the region.
A subsidiary of Germany’s food delivery startup Delivery Hero, Foodpanda will focus on developing its technology in the city-state. The company plans to work on enhancing its user interface, while also adding a variety of food choices, serving as many as eight markets in Southeast Asia.
The region has huge potential considering Foodpanda recorded a whopping growth in order by 114.8 per cent in the second quarter of this year, well ahead of other markets such as EMEA (59.7 per cent), the US (43.8 per cent), and Europe (42.1 per cent).
The startup, that celebrated its seventh anniversary in Singapore, will be hiring more than 500 experts for its product and engineering teams. In addition, it also plans to recruit another 100 engineers over the next 3 months.
“The Asian market is dynamic with many players helping to shape nascent industries like ours and boost regional and local economies. Delivery Hero Group is well-positioned in the delivery and marketplace sector in Southeast Asia to meet the increasing customer demand through our foodpanda brand,” a Delivery Hero spokesperson said.
With the increase in demand for the food delivery service over the past years, the startup has expanded its rider fleet by 74 per cent throughout last year.
FoodPanda Singapore also has been working with the Land Transport Authority (LTA) to launch its first Safe Riding Programme this year.
While its RideSafe Platform will address issues around the safety and educate riders on safe riding and LTA regulations, the company, on its part, has rolled out insurance packages for all its riders.
Foodpanda, headquartered in Berlin, has raised a total of $318 million in funding through several rounds. Its latest funding round was in May 2017, in which the company secured an undisclosed amount from Naspers and DeliveryHero.