Carriage, with around $1.3 million in seed funding, operates throughout the Middle East, providing food delivery for restaurants that do not offer the service or plan to discontinue their existing service.
The acquisition will bolster Delivery Hero’s place in the Middle East market, said Niklas Östberg, CEO of Delivery Hero, where there is “significant growth potential.”
Carriage’s founding team will remain with the company moving forward. “Becoming part of Delivery Hero will strengthen our business and extend our reach considerably,” said Abdullah Jihad Almutawa, CEO of Carriage.
Delivery Hero recently closed a funding round of €387 million from Naspers. The company, whose investors include Rocket Internet, is expected to file for an IPO in the near future. It recently posted a revenue boost of 71% in 2016 and processed $2.3 billion worth of food delivery orders with growth in several global markets, including the Middle East.