Movile raises funds for food delivery app

Movile raises funds for food delivery app

Asset Management Funds M&A Brazil

Brazil's Movile said it has raised another $400m for the iFood food delivery app to go along with the $100m it has already put up this year. The South African media group Naspers and the US investment firm Innova have committed $400m for Movile to invest in iFood. Movile and the British food delivery service Just Eat have already spent $100m on iFood this year, Movile said in a press release. iFood recorded 390,000 orders per day in Brazil in the last week of October, more than double the 183,00

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