Deliveroo valued at £5bn ahead of float

TAKEAWAY delivery firm Deliveroo has raised new funds its says value the business at more than $7billion (£5.2 billion), and confirmed a ‘ potential’ stock market listing could be on the cards.

The statement follows weeks of speculation it could join firms including Moonpig. com and boot maker Dr Martens to hit the public markets.

It is the first time Deliveroo has publicly confirmed it is mulling an IPO this year, but the timing of a final decision is still not clear. There has been talk the value could be as high as £8 billion. It could be the City’s biggest share float of the year.

Deliveroo said it raised $180 million (£132.5 million) from existing investors led by Durable Capital Partners and Fidelity Management & Research which has pegged its value at about the same as supermarket Sainsbury’s.

Will Shu, founder and CEO of the London-based firm, said that would help ‘support restaurants, provide riders with more work and extend choice for customers’.