iFood, the GrubHub of Brazil, Raises $2.6 Million

By Devon Glenn 

Movile has invested $2.6 million in the Brazilian food ordering and delivery company iFood. The mobile content and publishing company, which has nine offices across Latin America, intends to take iFood to new markets, including the United States.

Similar to American food delivery services like GrubHub and Seamless, iFood serves online, iOS and Android customers who order from 1,000 restaurants in five Brazilian states, including the major cities of São Paulo and Rio de Janeiro.

With an average of 50,000 orders a month,  iFood has brought in almost $10 million in revenue for its restaurant partners since it launched a year ago. iFood has increased sales for its restaurant and food chain partners by an average of 20 percent in the last year, according to iFood CEO Felipe Fioravante.

“By teaming up with Movile, we hope to improve our mobile technology to expand to more users and more restaurants across Latin America,” said Fioravante in a statement. “Movile is one of the biggest and most experienced mobile publishers out there, so they are a great fit for us.”

Movile plans to expand iFood’s service to 5,000 restaurants and food chains by 2014.

Eduardo Henrique, Movile’s head of U.S. operations, said in the announcement, “Mobile commerce is booming in Brazil and Latin America right now. iFood is leading the mobile and online food ordering industry, and as a major distribution platform with over 40 carrier partners and 20 million mobile subscribers, we at Movile are very excited to be a part of iFood’s next phase and to see how the service can expand to mobile devices across Latin America and eventually the U.S.”