East-West Digital News 2 October 2012
Moscow-based online food ordering company Delivery Club announced last week it has completed a $4 million second round of financing from its existing investor Addventure, a major Russian venture fund. The funds will be invested in regional and global expansion, the startup stated, targeting Central and Eastern European countries.
Delivery Club claims it currently processes more than 4,000 orders daily in Moscow and Saint Petersburg, an estimated one third of all online orders in those cities. It aims to reach 7,000 daily orders by the end of this year.
According to Addventure, the Russian market amounts to $1 billion, including $700 million for Moscow alone.
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