Brazil-based food ordering platform iFood has raised $30m in funding from investors including UK-headquartered counterpart Just Eat and mobile commerce company Movile, TechCrunch reported yesterday.
Founded in 2011, iFood delivers some 1.7 million meals each month from around 10,000 partner restaurants. The company will use the new funding to acquire Just Eat’s Brazilian subsidiary, Hellofood Brazil, and to purchase a 49% stake in SinDelantal, the market leader in Mexico.
Just Eat acquired SinDelantal in early 2015 and the company will henceforth operate as a join venture between iFood and Just Eat.
Movile held a 60% stake in iFood and Just Eat a 30% share, as of a $50m round closed by iFood in June 2015. The company had previously raised $11.9m from Movile and Just Eat.
Felipe Fioravante, co-founder and CEO of iFood, said: “At iFood we are constantly thinking about our mobile experience. We want to be the best and easiest way to order food from your phone.
“Movile’s mobile expertise has been essential in creating our world-class experience which we are always improving.”