Delivery Hero raises USD 110 million at a valuation of over USD 3.1 billion with the help of GLNS

Delivery Hero, the Berlin-based global leader of online and mobile food ordering – known in Germany under the brands Lieferheld and pizza.de – today announced a new financing round of USD 110 million. The investment was made by two leading public market investors from the U.S. This capital raising brings the overall primary equity investment in Delivery Hero to approx. USD 1 billion. Top tier investors include Insight Venture Partners, General Atlantic, and Rocket Internet, alongside a number of blue chip US-based public fund managers. To date Delivery Hero has built up a network of more than 200,000 restaurants in 34 countries. The company is processing 10 million orders every month with Delivery Hero’s restaurant partners generating more than USD 165 million in monthly sales. GLNS acted as the lead-counsel to Delivery Hero on the transaction. The GLNS team included Georg Lindner (Corporate/M&A/Tax), Matthias Mittermeier (Corporate/M&A), Reinhard Ege (Corporate/M&A/Tax), Andreas Scheidle (Tax) and Ferdinand von Spreti (Corporate/M&A). In addition, Markus Bauman and Ilan Kotkis (King & Spalding, London) advised on US- Capital Markets law aspects. On Delivery Hero’s side General Counsel Oliver Hüfner led the transaction. The new investors were advised by teams of Linklaters (Jochen Laufersweiler, Cornelius Wilk) and Kirkland & Ellis (Marcus Klie, Björn Holland, Thomas Komanek), respectively. Rocket Internet was advised by a Berlin based team of Noerr (Sascha Leske). Insight Ventures was represented by Willkie Farr Gallagher (Stefan Jörgens, Jan Claudio Muñoz) and Luxor Capital was advised by Latham & Watkins (Rudolf Haas). Gleiss Lutz (Jan Balssen), Paul, Weiss, Rifkind, Wharton & Garrison LLP (David Lakhdhir, Wendy Semel, Noah Craven) and Dentons - Balcıoğlu Selçuk Akman Keki Attorney Partnership (Galip Selçuk) represented the former shareholders of Yemeksepeti, including General Atlantic.

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