The app is available in the central business district and the Box Hill suburb of Melbourne as well the Eastwood area of Sydney, with plans to rapidly expand to other areas in the following months. Australian users in the two cities will be able to order from over 300 stores and restaurants. (The Logic)
Talking point: This is Fantuan’s first expansion outside North America. The company previously told The Logic it’s raising a Series C and looking for more Canadian investors. Fantuan is one of many niche food-delivery apps in Canada that focuses on the Chinese community, along with competitors like Lanyangyang and Hungry Panda. The platform has attracted Asia-focused investors including Celtic House Asia Partners, the sibling firm of Ontario-based Celtic House Venture Partners. Jie Chen, Celtic House Asia’s managing partner, told The Logic in an interview in late February that the app’s current valuation is US$360 million. Fantuan didn’t confirm the valuation.