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Brazilian food delivery app, iFood seems to be growing into the retail sector in 2020

Brazilian food delivery app, iFood seems to be growing into the retail sector in 2020

SAO PAULO (Reuters) – the Brazilian app iFood, which is specialized in the supply of ready-to-eat meals for consumers in the major towns and cities, and is looking to expand its services into other areas, and has plans for more activity in the retail sector, the chief executive officer (ceo), Diego Barreto, said on Friday.

The app, which is controlled by the Brazilian company is New, and has received an investment of $500 million last year, Naspers, and Innova Capital, plans to raise up to $ 1,000 to 200, and the number of supermarkets served by its platform.

The plan comes at a time when the big supermarket chains, such as the EFFECTIVE investment to promote their online business, ordered supplies, as well as other companies, such as the urban mobility app is 99 the start of a meal-delivery service, to the 99 to Eat.

Barreto said, iFood, which has been in the market since 2011 and it is connecting restaurants with consumers, who want to keep the focus on the food-chain, and an increase in the supermarkets of the surgery, a part of the strategy.

The company said orders in November rose 116% to 26.6 million, in spite of an increasingly competitive market.

Reporting by Alberto Alerigi Jr; Writing by Marcelo Teixeira; Editing by Daniel Wallis

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