LatAm List

After US$500M investment, iFood reaches 12.3M monthly orders

LatAm List – Latin America’s food delivery leader, iFood, has been growing fast since raising what may have been the region’s largest round ever. Movile, which owns a majority share in iFood, reports that iFood made over 12.3 million orders in November, representing 14% growth compared to October.

During Black Friday, iFood was reaching peaks of up to 600K daily orders just within the Brazilian market. According to a press release, this number represents 119% growth compared to November 2017. They have also seen 84% year-on-year growth in partner restaurants, reaching 50,000 restaurants last month.

By improving their artificial intelligence systems connected to iFood’s in-house logistics, the startup increased the number of orders delivered by their own couriers by 77% in the past two months. To date, iFood still has 16x more active users than their nearest competitor and is scaling fast.

 

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