“Can a delisted European food-delivery consolidator restore growth under PE ownership without the embedded-finance flywheel its competitors are now building?”
Founded 2000 as Thuisbezorgd.nl, the Dutch food-ordering marketplace IPO'd in 2016 and consolidated the European market through aggressive M&A — most notably the 2020 merger with Just Eat. The embedded-finance angle is narrow: a 2021 Adyen-powered Takeaway Pay Card extended its corporate meal-benefit program into a physical debit product, but JET has not followed peers (Deliveroo with Liberis, efood with finmid) into merchant lending. After a difficult post-merger period the company was taken private by Prosus in October 2025.