Brazil's iFood app announces $3.1 billion in investments

Yahoo

a day ago

By Luciana Magalhaes
SAO PAULO (Reuters) -Brazilian food delivery app iFood, owned by Dutch investment group Prosus, announced on Tuesday direct investments of 17 billion reais ($3.1 billion) in the country between April 2025 and March 2026.
The spending, a 25% rise from the previous 12-month period, primarily targets boosting platform traffic, increasing repeat purchases within the app, and expanding the company's operational areas.
iFood Chief Executive Officer Diego Barreto said in an interview that the platform maintains a positive outlook on Brazil's economy despite global uncertainties from geopolitical tensions.
"This geopolitical discussion will pass," he said, adding that iFood, which plans in three-year cycles, anticipates a "consistently low unemployment rate, with the Central Bank showing a constant fight to keep inflation at a low level, and the country growing."
The app invested 10.3 billion reais in 2024 and 13.6 billion reais in 2025, considering the 12-month periods ending in March.
The new capital will also be directed towards technology and innovation segments, as well as to provide credit for clients, for in-app use, and for restaurants, the CEO said.
The platform is adding 1,100 new direct employees to its workforce, over half in technology. This expansion will push the total workforce beyond 8,600 employees, according to the executive.
The new investment figure does not include resources iFood has set aside for possible acquisitions, the CEO said, declining to comment on media reports that the platform was eyeing Alelo, a major employee benefits card provider.
Currently, iFood works with 400,000 online and offline establishments and serves 55 million customers, operating in 1,500 cities. Having reached 120 million orders per month in 2025, the platform now aims for a monthly volume of 200 million orders within three years.
($1 = 5.4969 reais)