Deliveroo Singapore revenue for 2018 up 69% to S$44.5m

DELIVEROO Singapore on Tuesday said its revenue rose 69 per cent to S$44.5 million for 2018, from S$26.4 million the year prior. This followed a S$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 at December 2018, from 2,860 in 2017; and restaurant partners rose to 4,000 partners in 2018, from 2,400 partners the year before.

Currently, Deliveroo Singapore has 6,300 Singapore riders and 4,500 restaurant partners. Its Singapore headcount also stands at 124 employees, up from 104 in 2018 and 79 in 2017.

Deliveroo said that its investment into food innovation saw the opening of its Editions site in Singapore in March 2019 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 the Republic since May 2019, to support business performance optimisation for offices in the region. In the same month, it announced that it had raised US$575 million in a Series G funding round led by Amazon.

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

Globally, Deliveroo saw worldwide sales more than double to £277 million (S$461.1 million) as at Dec 31, 2017, from £128.5 million the year prior. Gross profit rose to £64.3 million from £1.1 million the year before.