HungryPanda
HungryPanda is the global leader in delivering Chinese food and groceries with the extensive market coverage, highest user traffic as well as annual transaction volumes.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor | €0.0 | round |
| investor investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor investor investor investor investor | €0.0 | round | |
* | $55.0m Valuation: $500m 3.0x EV/Revenue | Series D | |
| Total Funding | 000k | ||
| GBP | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | - | 66 % | 88 % | 10 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | - | (55 %) | (75 %) | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | (61 %) | (78 %) | (34 %) | (21 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | - | - | 4 % | 16 % | - | - |
Source: Company filings or news article
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HungryPanda is a food and grocery delivery platform that specializes in serving Asian communities living abroad. Founded in 2017 by Kelu “Eric” Liu, the company was born from his personal experience as a computer science student at the University of Nottingham, UK. Liu identified a gap in the market, recognizing the difficulty overseas Chinese students and expatriates faced in finding authentic Asian cuisine and navigating English-only platforms. What started as a student project to solve this problem has expanded into a global operation.
The company's core business revolves around a mobile application and website that connects users with a curated selection of local Asian restaurants and grocery stores. The platform is culturally attuned, offering support in languages like Mandarin and Cantonese, which helps bridge the language barrier for its target demographic. HungryPanda initially focused on Chinese communities but has since broadened its scope to include Japanese, Korean, and other Asian cuisines. In addition to restaurant meal delivery, the company launched "PandaFresh" for delivering fresh produce, groceries, and specialty Asian items, and "VouchersPanda" for lifestyle service discounts.
HungryPanda's business model is multifaceted. Its primary revenue stream comes from commission fees charged to partner restaurants and merchants for orders facilitated through the app. Additional revenue is generated from delivery fees paid by customers, which can vary based on distance and demand. The company also offers premium listings and advertising options for restaurants seeking better visibility on the platform and provides a subscription service for users, which includes benefits like free delivery. The company has demonstrated significant growth, operating in over 80 cities across 10 countries, including the UK, US, Australia, and nations in Europe and Asia. This expansion has been fueled by over $275 million in funding from various venture capital firms. The company reported achieving profitability in 2024 while maintaining an annual revenue growth rate of over 30%.
Keywords: food delivery, grocery delivery, Asian cuisine, overseas Chinese market, e-commerce, restaurant delivery, online marketplace, mobile application, niche market, PandaFresh
