Delivery app iFood to invest $4.7 billion in Brazil through March 2027

Brazilian delivery app iFood, owned by Dutch investment group Prosus, said on Wednesday it will invest 24 billion reais ($4.66 billion) in the South American country in the fiscal year through March 2027, a 41% increase from its previous investment cycle.

The company will direct spending across four areas: strengthening restaurant operations, expanding new delivery categories such as pharmacies and pet shops, developing proprietary technology, and growing its fintech unit iFood Pago.

Tech and innovation investment to exceed 2 billion reais, including AI agents and a generative AI model developed jointly with Prosus, iFood said.