Just-Eat secures US$48m in funding

16 Mar 2011

Online takeaway ordering service Just-Eat has secured US$48m in funding, led by venture capitalists Greylock Partners and Redpoint Ventures.

The investment will be used to further Just-Eat’s rollout internationally and to increase its range of services both online and for partner restaurants.

The London-based company allows users to access the menus of a network of restaurants and order a takeaway directly from them online.

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It’s represented in 10 countries across three continents, with more than 15,000 restaurants availing of the service. Currently, there are 646 Irish restaurants on the site.

In the last year, the number of restaurants taking orders online through the site has risen by 80pc and order volumes have more than doubled.

Just-Eat predicts it will generate more than US$500m in revenue for local businesses in 2011.

“Our restaurant partners get to tap into the exploding e-commerce market and consumers can conveniently access a wide choice of restaurants both online and via their mobiles,” said Klaus Nyengaard, CEO of Just-Eat.

“The investment allows us to keep pace with hungry customer demand. We welcome the support of our new investors in building the global champion in the category.”