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UK's food courier Deliveroo gets Amazon funding for business expansion


Devdiscourse News Desk london United Kingdom
Updated: 17-05-2019 16:32 IST
UK's food courier Deliveroo gets Amazon funding for business expansion

The latest funding round takes the total amount that Deliveroo has raised thus far to $1.53 billion. Image Credit: Flickr

US online titan Amazon has taken a stake in Deliveroo, the British food delivery company said on Friday. Amazon is the single largest investor in a $575-million (514-million-euro) financing round, Deliveroo said in a statement.

Other participants include existing Deliveroo investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. "This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders," said Deliveroo founder and CEO Will Shu.

"Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation. "This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate." The latest funding round takes the total amount that Deliveroo has raised thus far to $1.53 billion.

Since its London launch in 2013, Deliveroo has expanded into 500 towns and cities across Europe, Asia, Australia and the Middle East. Doug Gurr, Amazon UK Country manager, said that the group was "impressed" with the approach of London-headquartered Deliveroo. "Will and his team have built an innovative technology and service, and we're excited to see what they do next," he added.

(With inputs from agencies.)

COUNTRY : United KingdomUnited States

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