BERLIN — Food delivery startup Delivery Hero announced on Tuesday that its first quarter revenues rose 93% from €63 million (£55 million) in 2016 to €121 million (£105 million) in 2017.
The Berlin-headquartered company, which has expanded its takeaway service to more than 40 countries since it was founded in 2010, said it delivered 63 million takeaways during the last quarter, which is up 46% on a like-for-like basis.
Asia was the region where Delivery Hero saw the most growth, with revenues growing 222% during the last quarter.
Niklas Östberg, CEO of Delivery Hero, said: “We continued on our growth path at the start of the year while also getting closer to profitability.
“We have continued to focus on creating an amazing takeaway experience and entered into new partnerships to expand our reach. This puts us in a strong position to maintain growth momentum throughout the year and in the medium term, while continuing to improve our profitability as we reach further scale.”
Last December, Delivery Hero expanded its geographic footprint through the acquisition of Food Panda, which added 20 countries to Delivery Hero’s portfolio.
Earlier this month, the company announced that it had raised €387 million (£328 million) to help it take on rivals like Deliveroo and UberEats.
In total, Delivery Hero has raised over £1.3 billion, making it one of Europe’s “unicorn” companies. It employs over 5,000 people.