OpenBet owners invest in takeaway service
Investment in Just-Eat, which also involves other venture capital groups, expected to total US$64m.
Vitruvian Partners, the owner of software provider OpenBet, is leading a $64m investment in takeaway ordering service Just-Eat.
Just-Eat, which first launched in Denmark in 2001, allows customers to order takeaway meals online from a variety of partner restaurants.
Following the closure of the financing round, which also involves venture capital groups Index Ventures, Greylock Partners and Redpoint Ventures, London-based Just-Eat is expected to move into new territories beyond the 13, predominantly European markets in which it currently operates.
Private equity firm Vitruvian completed a £208m cash management buyout of OpenBet in January 2011, with the service provider’s CEO David Loveday leading the buyout and taking a minority stake.
The London-headquartered group had previously acquired gaming machines business Inspired Gaming in 2010 for a sum of almost £75m.
Just-Eat CEO Klaus Nyengaard said: “This new investment will help our continued expansion. Takeaway e-commerce has massive growth potential, and Just-Eat is at the forefront of changing the way people order food around the world.”