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Takeaway Aggregator Just-Eat Served £10.5 Million Funding

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Europe-wide online takeaway site Just-Eat has raised £10.5 million in VC funding from Index Ventures, in a round joined by Venrex Investment Management and existing shareholders. Just-Eat, founded in Denmark in 2001, acts as an online partner for 6,000 take-aways and restaurants including almost 3,000 in the UK — it indexes menus in its area-specific search engine and allows customers to order their kebabs and pizzas for delivery online via its payment system.

It’s handy for when you don’t have the number of the local pizza place, but hugely useful for small businesses without the budget for a flashy website or much knowledge of online payments. The new money — one of the top five VC deals we’ve covered this year — will go towards expanding its networks of partners to add to its take-aways in the UK, Denmark, Norway, Sweden, Holland and Belgium. Index partner Ben Holmes claims the take-away industry is growing at nine percent a year and is profitable “even in recessionary periods”. It’s Index’s first funding since it jointly backed eco-home start-up Alert Me last month.