Deliveroo Singapore's revenue up 69% to $44.5m last year

Deliveroo Singapore said yesterday that its revenue rose 69 per cent to $44.5 million last year, from $26.4 million in 2017.

This followed a $20.7 million investment from the food delivery platform's headquarters, which aided in its Singapore expansion.

Following the investment, Deliveroo Singapore expanded its rider and restaurant partners to meet consumer demand in the country.

Singapore riders increased to 6,000 as of December last year, from 2,860 in 2017; and restaurant partners increased to 4,000 last year, from 2,400 in 2017.

Deliveroo Singapore now has 6,300 Singapore riders and 4,500 restaurant partners. Its Singapore headcount stands at 124 employees, up from 104 last year.

Deliveroo said its investment into food innovation saw the opening of its Editions site in Singapore this March, with 10 kitchens and a 40-seater dine-in space with a fully automated ordering system.

The food delivery player has also been operating a new Asia-Pacific performance hub based in Singapore since May, to support business performance optimisation for offices in the region.

In the same month, it announced that it had raised US$575 million (S$788 million) in a Series G funding round led by Amazon.

"Our strong business and revenue growth reaffirm our efforts and investment in Singapore," said Deliveroo Singapore general manager Siddharth Shanker.

Globally, Deliveroo saw worldwide sales more than double to £277 million (S$461 million) by the end of 2017, from £128.5 million the year before. Gross profit rose to £64.3 million in 2017, from £1.1 million the year before.