Made famous for its backing of internet phone company Skype, London-headquartered Index Ventures has led the £10.5m investment in Just-Eat, a Danish-founded website for ordering takeaway meals over the internet.
London-based Venrex Investment Management and existing shareholders also participated in the deal.
With over 6,000 restaurants in its network, 3,000 of which are based in the UK, Just-Eat is connected to the kitchens of every restaurant in the network. The funding from Index and Venrex will be used to consolidate the company’s position in the UK as well as expand it into additional European territories, such as Norway.
Ben Holmes, partner at Index Ventures said: “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.”