LONDON (Reuters) – British food distribution company Deliveroo said on Sunday it had raised $ 180 million more from existing investors, including minority shareholder Amazon, in a measure that values the business at more than $ 7 billion .
Deliveroo will maintain an initial public offering in the coming months, in what would be London’s new largest share issue for three years.
“This investment will help us continue to innovate, developing new technological tools to support restaurants, provide pilots with more work, and expand the possibility of offering to customers,” said Will Shu, founder and CEO of Deliveroo.
The British competition regulator approved Amazon’s May 2019 purchase of a 16% stake in Deliveroo in August, nullifying objections from local competitors Just Eat Takeaway and Domino’s Pizza.
The Internet giant’s share is not expected to increase as a result of its stake in the latest round of fundraising, led by U.S. investors Durable Capital Partners and Fidelity Management & Research.
Deliveroo operates in 12 countries, mainly in Western Europe, but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It was not indicated how much each investor had contributed in the last round of financing.
The company said it would invest the $ 180 million in expanding exclusive delivery kitchen sites, a la carte grocery supplies and subscription services, as well as allowing more restaurants to receive orders from their own websites.
Report by David Milliken; Edited by Clelia Oziel