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Fantuan and Chowbus are coming together.Image Credits:Fantuan
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Fantuan , a Vancouver , Canada – based Asiatic food delivery company , announced it acquiredChowbus ’ livery clientele communication channel . Financial footing of the deal were not disclosed .
Chicago - based Chowbus also started out as a legal transfer service in 2016 , focused on providing a way for mammy - and - pa Asian restaurants to expand their customer understructure . Centennial State - laminitis Suyu Zhang and Linxin Wen grow the company to over 20 cities by 2020 andraised over $ 108 millionin venture capital funding , include a$33 million round in 2020 .
Then in 2022 , Chowbus pivot to supply restaurant management software and item - of - sale services , Yaofei Feng , Fantuan Colorado - father , told TechCrunch . A class after , it had over 1,000 eatery customers .
“ We are in a standardized diligence , but each has a exceptional demographic coverage , ” Feng said . “ Now we cover more in Canada and they are more in the mediate and eastern side of the United States . We desire to get better insight and acquire more client so we sat down and had a conversation . ”
With the acquisition do a partnership between the two company that will meld each of their strengths with local Asiatic eatery : Fantuan ’s rapid solid food delivery outgrowth with Chowbus ’ restaurant direction software .
“ With the rapid growth of the restaurant SaaS business line , we need to focalize and develop better products and services for merchandiser , ” said Linxin Wen , founder and CEO of Chowbus , in a statement . “ We are confident that our partnership with Fantuan will provide improved and expand services for merchant across food bringing , eating house SaaS systems and beyond . ”
Meanwhile , Fantuan was founded in 2014 by Randy Wu and operates in over 60 cities across Canada , the United States , Australia and the United Kingdom . In improver to restaurant rescue , the caller also work in the sweet grocery store legal transfer and dine - in Robert William Service segments . In December 2023,Fantuan raised $ 40 million in Series C capital .
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Vancouver ’s Fantuan advance $ 40 M to deliver veridical Asian food at your doorstep
About 20 employee from Chowbus will get together Fantuan , which will also care Chowbus ’ fleet of independently contracted legal transfer machine driver , Feng aver .
After consolidate Chowbus ’ delivery business , Fantuan be after to solidify its Asia - focused solid food delivery help across cities in the U.S. where it has just 10 % penetration of the U.S. market , Feng said . After the acquisition , the U.S. securities industry share for Fantuan will be over 60 % . The two company also require to help restaurants gain extra business and restroom through parliamentary law automation and more revenue .
The food delivery industry is undergo an interesting time . JOKR is making it work , whileGetir pulled out of some marketsover the summertime . More recently , we sawUber annunciate it would close Drizlyafter larn the alcoholic drink e - Commerce Department business three geezerhood ago , andJumiasaid it was discontinuing its food livery military service due to “ deep - pocketed strong-growing rivals , ” harmonize to CEO Francis Dufay . Meanwhile , antitrust regulators in the European Union had like cartel intuition andraidedtwo on-line food legal transfer company in November . And Amerind food delivery companySwiggy went on a purchasing spree .
The on - demand livery trilemma
