Brazilian delivery unicorn iFood launched iFood Pago, a digital bank for restaurants. iFood operates with licenses for Direct Credit Society (SCD) and payment institution.
iFood Pago offers digital accounts, credit, CRM, and payment services including POS terminals.
“We want to be the bank of restaurants. Be really good at pricing, accounts receivable management, and collection. iFood Pago was created to double iFood’s size,” said Bruno Henriques, iFood Pago’s CEO.
iFood partners with 350,000 restaurants, and 250,000 gig workers, serves 50M clients, and handles over 80M deliveries per month.
iFood Pago has extended $276M in credit to restaurants and opened 140,000 accounts, generating an annual GMV of $12.9B within iFood’s platform.
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