Delivery Club raises $4 million from Addventure
Moscow-based online food ordering company Delivery Club announced last week it has completed a $4 million second round of financing from its existing investor Addventure, a major Russian venture fund. The funds will be invested in regional and global expansion, the startup stated, targeting Central and Eastern European countries.
Delivery Club claims it currently processes more than 4,000 orders daily in Moscow and Saint Petersburg, an estimated one third of all online orders in those cities. It aims to reach 7,000 daily orders by the end of this year.
According to Addventure, the Russian market amounts to $1 billion, including $700 million for Moscow alone.
Among other local players are Foodik.ru and Izrestorana.ru, which deliver restaurant food, and Daytoday.ru, whose offer combines food ordering, home cleaning, laundry and other services.
Delivery Club’s most powerful competitor, however, is Delivero.ru, the Russian subsidiary of Delivery Hero, a Berlin-based company operating in a dozen of countries. Recently, Delivery Hero raised $49 million from Western and Russian investors.
However, the other major European player for online take-outs, Just-Eat, which is backed to the tune of $129.4m, hasn’t yet put down roots in Russia or anywhere else in Central and Eastern Europe, though it does presently operate in 14 countries, TechCrunch notes.