Led · Series C · Dec 2023

Fantuan operates an app-focused delivery platform that specializes in authentic Chinese and other Asian restaurant food, aiming to replicate the Chinese food-delivery experience in Western markets. The company also positions itself as an all-in-one local services destination for overseas Chinese, inspired by Meituan’s playbook. Fantuan has expanded to multiple cities including Vancouver, Toronto, London, San Francisco and Sydney and reports an average delivery time of about 40 minutes across those markets. Two years after founding it became a top Chinese food delivery platform in Vancouver and achieved net profitability, remaining profitable for five more years before aggressive U.S. expansion during the COVID-19 pandemic. Its annual revenue is projected to be close to $100 million this year; the platform has about two million registered accounts, 1.2 million active users, and a reported user retention rate of roughly 90% after five orders within 24 months. The company employs around 500 people and recently added Yinfeng Lu, a former Meituan sales executive, as chief operating officer. Fantuan emphasizes on-the-ground restaurant onboarding and Chinese-speaking drivers to build in-person relationships with immigrant restaurateurs.