Just Eat rival Foodhub announces major funding drive
UK takeaway delivery app, Foodhub, is looking to raise £100 million in private equity funds.
The startup launched in 2017 and in the last year has established a turnover of around £30 million and begun trading in new territories, including the USA, Mexico, Guatemala, Ireland, and New Zealand.
Foodhub has 22,000 takeaways on its books, whilst the recent takeover of Eat Appy saw it enter the Australian market.
Aside from developing further global acquisitions in 2021, the private equity funds will be used to boost Foodhub’s existing operations in several territories, expanding the workforce and helping the brand to continue to develop its offering as it takes on the bigger players in the market such as Just Eat and Uber Eats.
CEO Ardian Mula says: “The reason we’ve been able to go from tech startup to a major player in the industry is because we have a completely unique offering.”
“We’re the only large takeaway app to offer a 0% commission model, meaning that it’s cheaper and more manageable to trade through Foodhub than it is through other apps.”
“It’s our mission to support independent businesses all around the world, and the more we grow, the more business owners are learning just how we can help them thrive.”
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