Online food delivery aggregator Foodpanda has launched a corporate account product which will let employees of companies and companies order and pay for meals in offices. According to its press statement, the product is live with corporate customers in India, Singapore, Hong Kong, Indonesia and Philippines, with plans to expand to 40 more markets. As of now, foodpanda claims to list menus from 12,000 restaurants across 200 cities in the country.
Companies can allocate food budgets, employees can share food costs
Companies will be able to set budget allowance for food along with order frequency, date and time. The service will let employers set maximum order values for lunch, dinner, weekday and weekend orders and provide detailed ordering reports and monthly invoices. According to foodpanda, this will save the company the hassles of paper receipts and streamline accounting. Employees will be able to place group orders, shared orders to merge allowances and pay for the exceeding (over the allocated budget) amount with private credit cards.
A survey conducted by the company with over 1,000 participants states that fully reimbursed meals topped the list of potential office perk options, closely followed by financial support for education and gym memberships. It added that 74% of corporate employees eat lunch at office, 21% stay at their desks for dinner, over 50% spend over an hour getting food from outside office, while 60% are willing to stay longer and voluntarily work on weekends if the company provides food.
Funding from Goldman Sachs and Rocket Internet
In May, foodpanda raised $100 million in funding led by Goldman Sachs, with participation from existing investor Rocket Internet, to expand its delivery and improve overall customer experience across the 40 markets it is operational in. So far, it has raised $310 million since its launch in 2012. In February, the company took over JustEast’s India operations, and acquired TastyKhana in November last year.
Tie up with Uber and Zo Rooms
In the same month, online cab hailing service Uber, foodpanda and budget hotel room chain Zo Rooms tied up for travel, food and accommodation via their mobile applications. Travelers would get a free ride up to Rs 500 and 50% off coupons on foodpanda orders and 100% cashback upon checking in to any one of the 150 properties Zo Rooms had in 13 cities.
In March, it appointed Saurabh Kochhar as its India CEO and chief business officer of global operations. Kochhar founded the online printing solutions provider Printvenue, which incidentally is also backed by Rocket Internet and was expected to continue serving as the CEO of Printvenue.
Our foodpanda coverage here.