Deliveroo set to raise £1bn in London Stock Exchange float

The takeaway delivery service firm, Deliveroo could be set to raise £1bn as the company moves closer to listing on the London Stock Exchange.

Deliveroo have confirmed their fundraising target as they are inching closer to their initial public offering (IPO), which could value the company at over £5bn.

Deliveroo confirmed the stock market float on Monday, which will see the company selling newly issued and existing shares from some investors to the Stock Exchange.

In 2020 the company saw transaction soar by 64% to £4.1bn as the lockdown saw people making an uptick in takeaway deliveries.

Each month over 6m people order through 115,000 restaurants and cafes on their platform.