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Online takeaway ordering service Just-Eat has just secured $48m (£30m) in funding which will allow the company to consolidate its position in the UK and accelerate its expansion into other markets.
The funding round was co-led by Greylock Partners and Redpoint Ventures, with support from existing investor Index Ventures.
Founded in Denmark in 2000, the company partners with small takeaway restaurants and allows them to display menus and take orders from online customers.
I asked Just-Eat CEO Klaus Nyengaard about the deal:
How will the funding be used? How much funding have you received in total so far?
Mainly for expansion into new markets but also existing markets and new products. Right now, we are present in ten different countries over three continents.
We have received around $50m to date.
Can you share some numbers on the size of the business and recent growth?
Just-Eat currently works with over 15,000 restaurants globally, including 7,400 in the UK.
Over 100,000 meals are ordered daily and 5m visitors are served from the website each month. There is also more than $500m worth of food going through our network this year.
Over the last twelve months the number of restaurants taking orders online via Just-Eat has risen by 80% and order volumes have more than doubled.
Do you still find any resistance to the idea from restaurants? Do they take some time to be convinced?
Not in established markets but there is still some convincing to be done in new markets.
How much commission do partner restaurants pay on each order?
It is no cure no pay. Typically our commission is around 10% of the transaction value.
Have you any plans to move the service onto mobile?
Yes we have been delayed in this space but we launched our mobile version 1.0 in Ireland some weeks ago and it will be rolled out in the UK and other markets in April.