iFood said on Wednesday it will deploy 24 billion reais in Brazil over the fiscal period that concludes in March 2027, marking a 41% rise versus its previous investment cycle. The company, which is owned by Dutch investment group Prosus, outlined a multi-pronged allocation of capital intended to deepen its footprint across food delivery and adjacent services.
The announced funds will be invested across four principal vectors: strengthening restaurant operations, extending delivery services into additional categories such as pharmacies and pet shops, building proprietary technology, and scaling iFood Pago, the platform's fintech unit. iFood said its technology and innovation budget alone will exceed 2 billion reais, a sum that covers AI agents and a generative AI model being developed in partnership with Prosus.
CEO Diego Barreto highlighted the firm`s shift toward a broader mix of offerings. Barreto said non-restaurant delivery businesses are expected to represent about 40% of revenues and results by the end of this year, reflecting a strategic push beyond core food delivery. He also pointed to previous investment cycles to illustrate traction: the earlier round produced a 60% uplift in grocery, a 70% increase in pharmacy, and more than 100% growth in pet shop deliveries.
On competition, Barreto referenced rivals including Didi-owned 99Food and the Meituan-controlled Keetha, but said competition does not unsettle iFood. He attributed that confidence to iFood`s capacity to innovate and to its investment program, which emphasizes both product development and category expansion.
The company did not provide additional financial detail beyond the headline investment figure and the technology allocation. The plan formalizes a substantial capital commitment aimed at product diversification, technology development and fintech growth, while building on gains reported from the prior investment cycle.
Context for markets and sectors
- Restaurant operations and the broader food service delivery sector stand to be directly affected by the planned investments.
- Grocery, pharmacy and pet shop delivery services are key non-restaurant verticals highlighted by the company, and are central to its revenue-mix objectives.
- Technology and fintech sectors are implicated through the stated allocation to proprietary tech and to iFood Pago, including investments in AI.