iFood launches digital bank for restaurants, iFood Pago

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SÃO PAULO, SP, 21.07.2018: APLICATIVO-NEGÓCIOS – Aplicatico do iFood em Smartphone. iFood é uma empresa brasileira fundada em 2011, atuante no ramo de entrega de comida pela internet. O app iFood permite pedir refeições de restaurantes ou lanchonetes próximos, diretamente do celular, sem precisar gastar créditos com ligações.(Foto: Marcelo Barbosa/Folhapress)

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.

Read more on Startups.com.br

Matheus is a lawyer and a strategy consultant in Brazil. He has always been passionate about crating impact, be it through law, projects, deals, or innovation: he’s practiced Law as an attorney at Baker McKenzie, worked as an experienced hire consultant at McKinsey & Company and helped on the development of an early-stage startup.

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