Brazilian corporate benefits provider iFood Benefícios announced the acquisition of Caju, a startup that offers employee benefits, expense management, and HR solutions. The companies did not disclose the deal’s value.
The acquisition is subject to approval from Brazil’s Administrative Council for Economic Defense (Cade) and the Central Bank.
Founded in 2020, iFood Benefícios offers a single card for food, transportation, education, culture, and healthcare benefits. Caju, also founded in 2020, provides employee benefits, corporate expense management, and HR tools.
The deal strengthens iFood’s position in Brazil’s corporate benefits market, which processes approximately $28 billion annually.
iFood Benefícios serves 65,000 corporate clients and 1.7 million users, while Caju has more than 70,000 corporate clients and 1.3 million users.
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