Foodpanda Bangladesh Incurs €111 Million in Losses Since 2016 Launch

Dhaka, July 26, 2026 — Foodpanda Bangladesh's losses rose 40 percent to €11.76 million last year, extending a losing streak that now stretches back a full decade, according to parent company Delivery Hero's annual financial statements. 📊

🌏 The Bangladesh operations of the German company comprise four entities: the core food delivery business; the quick-commerce arm Pandamart; cloud kitchen unit DH Kitchens; and a holding company, Jade 1343 GmbH & Co Vierte Verwaltungs KG. Together they have lost €110.66 million since 2016 and have yet to turn a profit in any year. ⚠

📊 Breakdown of Losses by Entity

👥 Food delivery accounts for the largest share of the total losses:

• 🍽 Food delivery (core): Cumulative losses of €79.22 million since 2016. Losses widened 65% last year to €7.14 million, accounting for over 60% of the group's total loss.
• 🛒 Pandamart (quick-commerce): Loss of €2.27 million last year, reaching €20.27 million total since launch in 2020.
• 🍳 DH Kitchens (cloud kitchen): Narrowed losses by 15% to €0.34 million last year, with €2.28 million lost since 2020.
• 🏛 Jade 1343 (holding company): Lost €2.01 million last year, taking cumulative losses since 2021 to €8.89 million.

🚗 The Uber Acquisition Deal

🌏 Foodpanda has yet to turn a profit in Bangladesh since entering the market in 2013. Its decade of losses now intersects with Uber's $13 billion acquisition offer for Delivery Hero, announced last week. 💰

📊 The logic behind the deal, according to Uber, is to cross-sell by gaining access to takeaway customers in markets where it offers rides but not food, such as South Korea and the Middle East, and converting them into users of both. Uber reckons that its cross-platform users generate roughly three times the gross bookings and higher profits than single-product users. 📈

⚠ However, in the case of Bangladesh, Uber exited the food delivery business within 14 months in June 2020 after failing to gain any ground despite considerable cash burn in the intensely competitive market. This raises questions about whether the acquisition will benefit or further complicate Foodpanda's Bangladesh operations.

👥 Expert Analysis

🤝 AKM Fahim Mashroor, former president of the Bangladesh Association of Software and Information Services (BASIS) and CEO of BDjobs.com, outlined two possible scenarios:

• ✅ Scenario 1: Uber retains the Foodpanda brand and the business continues to operate largely as it does now.
• ⚠ Scenario 2: Uber discontinues the brand altogether. "Since Bangladesh is not a particularly lucrative market, that is also a real possibility — everything could change," Mashroor said.

📝 Foodpanda Bangladesh's Response

👥 Responding to queries from The Daily Star, Foodpanda Bangladesh said it is yet to receive any indication of changes to its operations following the acquisition announcement:

"Nothing changes today. Any organisational decisions and specific branding decisions will be worked through after closing, which is expected in the second half of 2027. Bangladesh is one of Delivery Hero's most dynamic markets, possessing immense potential for long-term growth. Our focus and investments over the last decade have been dedicated to building cutting-edge technology, empowering communities economically and fostering ecosystem development for customers and partners."

📊 Uber did not respond to The Daily Star's request for comment. ⚠

📈 Context: Food Delivery in Bangladesh

🌏 Foodpanda entered Bangladesh in 2013 and has been the dominant food delivery platform in the country, despite never achieving profitability. 📊 The company's decade of losses highlights the challenges of the food delivery business model in emerging markets:

• 💰 High customer acquisition costs — heavy discounts and promotions needed to build market share
• 👥 Low average order values — Bangladesh's lower income levels mean smaller order sizes
• 🚢 Logistics challenges — traffic congestion, informal address systems, delivery infrastructure
• 👥 Intense competition — multiple players competing for market share with heavy subsidies
• 📈 Uber's exit — Uber Food shut down in Bangladesh after just 14 months, showing the difficulty of the market

📊 The €111 million in cumulative losses raise fundamental questions about the long-term sustainability of the food delivery model in Bangladesh. While Delivery Hero continues to invest, citing "immense potential for long-term growth," the decade-long lack of profitability suggests that significant structural changes — whether through the Uber acquisition or other strategic shifts — may be needed to achieve financial viability. 📈