View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 14, 2018

Movile secures $400m funding for growth of delivery platform iFood

Brazilian technology firm Movile has secured $400m in funding from private equity firms Naspers and Innova Capitals.

Brazilian technology firm Movile has secured $400m in funding from private equity firms Naspers and Innova Capitals.

Free Report
img

Meet emerging digital demand in the foodservice industry

Global digital pressures are making waves across sectors. The foodservice industry is seeing particular impact as consumers change the way they operate. It is therefore essential to know how to navigate the challenges that digital is presenting to the industry and its consumers. GlobalData’s free report explores the market outlook for the global foodservice industry, with insights into how foodservice operators, brands, and their suppliers can meet changing demands. Key features in this report include:
  • An overview of dine-in, takeaway, and delivery forecasts up to 2026
  • Areas foodservice industry players should be focusing on for digital investment
  • Consumer insight into attitudes towards digital convenience
  • Challenges facing foodservice, in terms of investment and logical considerations
  • Key examples of top industry players
Adapt and stay on top. Download our free report now.
by GlobalData
Enter your details here to receive your free Report.

The company will use the funds to grow its online food delivery platform iFood. It will also help accelerate product development and innovation, as well as geographical expansion across the region.

This investment follows a prior $100m investment made by Movile and online food delivery marketplace Just Eat this year.

Movile’s CEO Fabricio Bloisi said: “Movile is very fortunate to have long-term investors that have supported us for the past decade to help achieve our goal of transforming the lives of more than one billion people and thus we are able to continually back iFood to ensure it remains the market leader.

“Movile is very fortunate to have long-term investors that have supported us for the past decade.”

“Our entire ecosystem of companies is focused on allocating resources and energy towards our one billion people goal, and iFood is leading the way fuelling unprecedented growth through its innovative technology platform, providing consumers, couriers and restaurants with the best experience in food ordering and delivery.”

Leveraging artificial intelligence (AI) technology, iFood is planning to personalise its food delivery experience. It currently operates in 483 Brazilian cities, including 50,000 restaurants and 120,000 delivery executives.

The online delivery platform is said to have reached 390,000 orders per day over the last week of October in Brazil. This has increased from 183,000 in the same period in 2017.

Free Report
img

Meet emerging digital demand in the foodservice industry

Global digital pressures are making waves across sectors. The foodservice industry is seeing particular impact as consumers change the way they operate. It is therefore essential to know how to navigate the challenges that digital is presenting to the industry and its consumers. GlobalData’s free report explores the market outlook for the global foodservice industry, with insights into how foodservice operators, brands, and their suppliers can meet changing demands. Key features in this report include:
  • An overview of dine-in, takeaway, and delivery forecasts up to 2026
  • Areas foodservice industry players should be focusing on for digital investment
  • Consumer insight into attitudes towards digital convenience
  • Challenges facing foodservice, in terms of investment and logical considerations
  • Key examples of top industry players
Adapt and stay on top. Download our free report now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Verdict Food Service