“Can iFood turn its 100M monthly food-delivery orders into the financial operating system for Brazil's restaurants and gig-economy couriers?”
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.
iFood discloses Mi Pagamentos do Brasil Ltda. (in-house), MovilePay Sociedade de Crédito Direto S.A. (in-house) and Zoop Tecnologia & Instituição de Pagamento S.A. (in-house) as its banking providers, according to the Embedded Finance Index 2026.
iFood does not disclose a bank charter of its own; its banking services are provided through Mi Pagamentos do Brasil Ltda. (in-house), MovilePay Sociedade de Crédito Direto S.A. (in-house) and Zoop Tecnologia & Instituição de Pagamento S.A. (in-house).
iFood processes payments through Adyen.
iFood's lending and capital products are provided by MovilePay Sociedade de Crédito Direto S.A. (in-house).
The Embedded Finance Index 2026 maps 3 layers in iFood's stack: Payments / PSP (Adyen); Banking / BaaS (Mi Pagamentos do Brasil Ltda. (in-house), MovilePay Sociedade de Crédito Direto S.A. (in-house) and Zoop Tecnologia & Instituição de Pagamento S.A. (in-house)); Lending (MovilePay Sociedade de Crédito Direto S.A. (in-house), Credit operations via MovilePay SCD (working capital for restaurants), Receivables anticipation (antecipação) for restaurant partners and Motorcycle/e-bike financing for couriers via Caixa Econômica Federal partnership).
iFood was founded by Eduardo Baer, Felipe Ramos Fioravante, Gabriel Pinto, Guilherme Bonifacio, Michel Eberhardt and Patrick Sigrist and is founded in 2011, headquartered in Osasco, São Paulo, Brazil.
iFood has raised $2.2B in total (latest round: Secondary - Private, 2022; valuation: ~$1.8B implied (Just Eat Takeaway stake sale, 2022)).
iFood's acquisitions include Zoop Tecnologia & Instituição de Pagamento S.A..
Get a read on where your own stack stands against iFood and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.