iFood has raised $591.0M in total across 6 funding rounds.
iFood's investors include 83North, Scale-Up Ventures, Fabricio Bloisi, Dutch Founders Fund, Rianta Capital.
iFood is a leading Brazilian technology company that operates an online food ordering and delivery platform, connecting millions of customers with over 330,000 restaurants and 250,000 delivery drivers across more than 1,700 cities in Brazil.[1][2][3][4] It dominates the market with over 80% share, processes 80 million monthly orders, and generates around $1.3-1.6 billion in revenue, while expanding into grocery delivery via iFood Mercado and payment solutions like iFood Pago.[1][2][3][4] Serving consumers seeking convenient meals, iFood solves the problem of seamless food access by leveraging advanced logistics, mobile apps, and partnerships, fueling rapid growth amid Brazil's booming online delivery sector which expanded 45% in 2022.[3][5]
Founded in 2011 in São Paulo, Brazil, iFood emerged as a response to the need for convenient online food ordering, quickly scaling through technology to connect customers, restaurants, and drivers.[1][2][4][5] The platform was backed early by Brazilian investment firm Movile and later acquired by Dutch-based Prosus (part of Naspers), which solidified its growth; it merged operations in Argentina and Colombia with rivals in 2018 and 2021, exiting those markets to focus on Brazil.[2][6] Pivotal moments include launching grocery delivery in 2019 via partnerships like SiteMercado (acquired in 2021) and hitting 40 million monthly users by 2023, transforming it into Latin America's largest food delivery service.[1][2][3]
iFood rides the wave of digital transformation in emerging markets, capitalizing on Brazil's 45% online food delivery growth in 2022 and rising mobile payment adoption (25% annually), where it holds 70% market share.[2][5] Timing aligns with urbanization, smartphone penetration, and post-pandemic delivery surges, amplified by economic contributions like $97 billion in gross production value.[3] It influences the ecosystem by fostering inclusion for 330,000 establishments and 250,000 drivers, integrating supermarkets toward a 30,000-store goal, and pioneering LatAm food tech while navigating antitrust scrutiny from CADE over pricing impacts.[2][4][6]
iFood's trajectory points to deeper ecosystem integration, with grocery and payments expansion positioning it as a super app for daily needs in Brazil and potentially beyond.[1][4] Trends like AI-driven personalization, sustainable logistics, and regulatory pressures will shape its path, alongside competition and economic shifts; expect further market consolidation and tech investments to sustain dominance.[2][3][5] As Brazil's food delivery synonym, iFood exemplifies how tech platforms can redefine convenience at scale, promising sustained leadership in a high-growth sector.[2][5]
iFood has raised $591.0M across 6 funding rounds. Most recently, it raised $500.0M Series G in November 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2018 | $500.0M Series G | 83North, Scale-Up Ventures, Fabricio Bloisi | |
| Jul 1, 2016 | $30.0M Series F | 83North, Dutch Founders Fund, Rianta Capital, Scale-Up Ventures | |
| May 1, 2015 | $50.0M Series E | 83North, Dutch Founders Fund, Rianta Capital, Scale-Up Ventures | |
| Aug 1, 2014 | $6.0M Series D | 83North, Dutch Founders Fund, Rianta Capital | |
| Feb 1, 2014 | $2.0M Series C | Scale-Up Ventures | |
| Feb 1, 2013 | $3.0M Series B |
