Just-Eat secures £10.5m to fund expansion

14th July 2009, 7:10am

Just-Eat has announced new funding of £10.5 million which the company says will help it expand into additional territories across Europe.

Klaus Nyengaard, CEO of Just-Eat explained more about the financial deal: "Our mission is to give people around the world an easy, fast, and dependable way to order takeaway food online from their favorite neighborhood restaurants.

"We provide a convenient way to find takeaway restaurants, read reviews, look at menus, order meals online instead of over the phone, and have them conveniently delivered to your home. This new round of funding will help us further expand our restaurant network and continue to provide the best possible choice and service to our customers."

Ben Holmes, partner at Index Ventures added: "The home delivery market is growing at 9% per year and it has proved to be a profitable business even in recessionary periods. Just-Eat clearly has the best technology and processes in the industry as well as a strong team and proven traction among consumers and restaurants."

Related Articles:

• 01 Aug 2011 - Online takeaway service Just-Eat expands marketing team
• 11 Mar 2011 - Online takeaway service Just-Eat appoints new chief operating officer
• 25 Jan 2010 - Most popular takeaway restaurants in UK announced

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mark

14 July 2009 at 5:19pm

Don't forget they do have strong competition, noticeably 118menu.co.uk

Jay - Nottingham

16 July 2009 at 10:26pm

Just eat is destroying the market of online order by trying and lying to restaurants and takwaways to go on their books but not really send orders through. They advertise on the back of these outlets free of charge without the restarants realising what is happening. Puting banners on shop front is the biggest con out. Why would you need to do that is front of their owner window? Is just pushing their google ranking so the share value gross. There some very good companies out there which are very professional like Hungry House or Urbanbite. JE should take a leaf out of their books!

mohammed badawi

17 July 2009 at 9:38pm

This Jay needs a medal. He is so correct, Just Eat has just done the exact and to round it off they did the same to the Grill house two doors down from me. I have torn off my window banner and if Just Eat want to do business they should spend their own money on marketing. I will not be entertaining Just Eat's on my web site. We should all stand together, good on you Jay.

Adam Bristow

20 July 2009 at 1:55pm

It’s very interesting how a company can operate and guarantee income when I haven’t received number of orders as promised before. I partied with my money in all good faith but no orders materialised. I am sure I am not the only one in this situation. So what am I going to do? Well firstly I would start a forum of for restaurant owners like myself who have been promised the earth but I only got the soil. I’m sure David Buttress the managing Director of Just Eat is aware this matter. So why did venture capitalist companies invest money into a company who have the wrong morals? Is it because they haven’t been told about their business ethics or they are involved in the GAME. I think Ben Holmes the venture capitalist needs to re-evaluate the investment. Adam

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