The deal is one of the biggest Venture Capital transactions for a Colombian Internet company to date, with a total return for Axon of nearly four times its investment and an IRR above 500% since its investment in ClickDelivery in May 2013. Delivery Hero is a Germany-based company, with more than 700 employees globally in 14 countries worldwide, is aware of the potential of emerging markets like Latin America.
Alfonso León, Managing Partner of Axon Partners Group Investment, comments: “We are extremely pleased to have achieved so much with the ClickDelivery team since we invested in May 2013. With our support, the growth of the company has been rapid, achieving a 12-fold increase in orders in just a year, and demonstrates this company’s potential, and the huge potential for growth of this market in general.”
Alfonso León continues: “This is a great success for Axon Partners Group’s Investment Division, and it is the direct result of, not only hard work, but our proven research driven approach investment strategy. We immediately understood the strength of the founding team and, understandably, Delivery Hero has spotted the opportunities that a growing market like LatAm and such a successful team can offer.”
ClickDelivery is part of Axon Partners Group’s Amerigo Ventures Fund, which has made four investments to date, in companies like O4IT and RedSeguro.
ClickDelivery is the undisputable market leader in Colombia and is already on track to becoming market leader in Peru and Argentina. Part of Axon’s extensive LatAm investment portfolio, the Colombian company, founded in 2007, has over 2,700 restaurants and boasts more than 2.7 million visitors to its website and app per month, and nearly 200.000 active users. It also receives over 65% of orders through mobile platforms; a number that is impressive for even large companies in more mature markets like the USA and Europe.
ClickDelivery boasts a solid foundation with its multidisciplinary management team that has worked together for seven years. Jose Calderón (CEO), Miguel McAllister (CTO), and Pablo Gonzalez (CCO) have over 25 years’ experience between them in entrepreneurship and management. ClickDelivery’s local brands domiciliosbogota.com, domiciliosmedellin.com, buenosairesdelivery.com, domicilioscali.com and limadelivery.info are all now household names and are top of mind for food delivery in their respective markets.
Jose Calderón, CEO of ClickDelivery comments: “Miguel, Pablo and I are excited and honored to partner with Delivery Hero and its team as we continue to bring our service to more people in Latin America. We believe we share our values and vision with Delivery Hero, with their structure we know we can continue to give great experiences to our users and keep growing our restaurants/partners online revenues. We hope this is the beginning of a rewarding long term relationship.”
Niklas Östberg, Co-founder & CEO of Delivery Hero Holding, comments: “We are delighted to have acquired a stake in ClickDelivery and look forward to work closely with a very passionate founding team. The acquisition further strengthens our leadership position in Latin America.”