iFood
“Can iFood turn its 100M monthly food-delivery orders into the financial operating system for Brazil's restaurants and gig-economy couriers?”
Founded2011
HQOsasco, São Paulo, Brazil
FoundersEduardo Baer, Felipe Ramos Fioravante, Gabriel Pinto, Guilherme Bonifacio, Michel Eberhardt, Patrick Sigrist
Total raised$2.2B
Latest roundSecondary - Private, 2022
Valuation~$1.8B implied (Just Eat Takeaway stake sale, 2022)
IndustryMarketplace / Food delivery
The story
Founded in 2011 as a straightforward online food-ordering marketplace, iFood grew to dominate Brazilian food delivery through successive fundraises and the merger of Just Eat's Brazil operations. After Prosus and Movile consolidated ownership in 2022, iFood accelerated its transformation into a 'super-app' and financial operating system for its restaurant and courier ecosystem. iFood Pago — encompassing Mi Pagamentos, MovilePay SCD, and Zoop — now operates as an embedded fintech unit offering payments, credit, and benefits, directly monetizing the 100M+ monthly orders flowing through the platform.
Last 12 months
Product timeline
2011
iFood founded as an online food ordering platform connecting consumers with restaurants in Brazil.· pivot
2015
Raised $50M from Movile and Just Eat; merged with Just Eat's Brazil operations to become dominant food delivery player.· acquisition
2022
Just Eat Takeaway sold its ~33% stake to Prosus for up to €1.8B; Prosus and Movile became sole owners.· acquisition
2023
Launched iFood Pago, an embedded fintech umbrella comprising payments, credit, and benefits products for restaurants and couriers.· banking
2024
Deepened partnership with Adyen to power in-app and point-of-sale payments, including maquininha (POS terminal) innovation announced at Casa Adyen 2024.· card
2026
iFood and Caixa Econômica Federal announced a partnership to facilitate vehicle financing (moto/e-bike) for delivery couriers.· lending
Acquisitions
Regulated entities
3
regulatory licences held by iFood
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
iFood was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
3 layers disclosed in iFood’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: minor
7 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.