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Delivery Hero

“Can a global food-delivery marketplace become the embedded financial platform for hundreds of thousands of restaurants and gig riders?”

Founded2011
HQBerlin, Germany
Latest roundIPO 2017 (Frankfurt Stock Exchange, ~€450M)
IndustryMarketplace / Food delivery
The story

Founded 2011 as a pan-European food-delivery aggregator, Delivery Hero grew via aggressive M&A (Foodpanda, PedidosYa, Talabat, efood) into a 70+ country marketplace, listed in Frankfurt in 2017. The company has steadily added financial-services rails on top of its merchant and rider network — first as a payments operator (200+ in-house payment staff in Berlin alone, using Adyen and Checkout.com for global acquiring), then as an on-demand wage provider for riders via HSBC's Payment Initiation API in Singapore, and most recently as a distributor of embedded SME lending via finmid across Europe. The strategic question now is how much of the restaurant-and-rider financial stack Delivery Hero can monetize directly.

Last 12 months
2026-04
2025
2024-08
Product timeline
2011
Delivery Hero founded in Berlin as online food-ordering aggregator· launch
2016
Acquired Rocket Internet's Foodpanda business, expanding into 20+ markets in Eastern Europe, MENA, and Asia· acquisition
2017
IPO on Frankfurt Stock Exchange (DHER), raising ~€450M· ipo
2020
Expanded into quick commerce via Dmarts (delivery-only supermarkets)· pivot
2024
Began rolling out embedded lending products for restaurants and riders across 70+ markets· lending
2025
Expanded finmid partnership to provide cash advances to restaurant partners across multiple European markets· lending
2026
efood (Greek Delivery Hero brand) launched efood Capital with finmid, offering up to €30K to 21,000 restaurant partners· lending
In the press
embeddedfinancereview.com ↗
Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
◇ article2024-08-26
Delivery Hero launches financing products
Delivery Hero launches lending for restaurants and riders across 70+ markets. How food delivery platforms are embedding SME financing.
Source · Embedded Finance Review ↗
The stack
3 layers disclosed in Delivery Hero’s embedded-finance stack
Payments / PSP
AdyenAdyen for PlatformsCheckout.com
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: none
5 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.