Movile is a Latin American tech holding that owns and backs businesses including Brazilian delivery app iFood, fintechs MovilePay and Zoop, and Colombia-based logistics company Mensajeros Urbanos. The company’s portfolio spans food delivery, payments/fintech and last-mile logistics, with Mensajeros Urbanos expanding into Mexico. Movile said it will use the new capital to fund expansion across its current companies. The firm reported revenue growth of about 80% a year over the last three years, without disclosing absolute revenue figures. Prosus, described as a major shareholder and global consumer internet group, is the investor behind the new funding. The announcement was reported from Sao Paulo by Reuters. Movile operates iFood, a meal-delivery app that is the largest food delivery service in Latin America. iFood runs in 483 Brazilian cities and supports 120,000 motorcycle delivery drivers serving 50,000 restaurants. The platform averaged about 390,000 deliveries per day in October, more than double the same period in 2017, and achieved unicorn status roughly a year and a half ago. Movile announced a $500 million funding package to grow iFood, with $400 million pledged this week and $100 million raised in the past several weeks. The company plans to use the capital to invest in artificial intelligence and optimize delivery logistics, and has said it can triple the number of restaurants on the platform. Founder and president Eduardo Henrique disclosed the raise in an interview with Reuters, and Naspers has reiterated its commitment to backing the company. Movile operates a portfolio of consumer-facing businesses, notably the food delivery service iFood, payments platform Zoop, and ticketing platform Sympla. The company follows a buy-and-build strategy, making investments in promising startups across Latin America and incubating subsidiaries such as iFood. Movile reports about 150 million users per month across its application ecosystem, and company executives say many of its businesses are growing at over 100% per year. Leadership cites Chinese super-apps like Meituan and WeChat as models for long-term expansion and integration. The company plans to use the latest funding to expand iFood, Zoop and Sympla and to continue making acquisitions and investments in the region. Movile is positioning itself to capture the large Brazilian market and broader Latin American opportunity through both organic growth and further deals. Movile is a Latin American marketplace developer whose business lines include logistics and delivery, ticketing, online gaming and education. Its most capital‑intensive and investor‑attracting business is iFood, a leading food delivery company in Latin America. As of September 2017 the company had reached 6.2 million monthly orders and become the largest food delivery company in the region. CEO Fabricio Bloisi views food delivery as a gateway to other online‑to‑offline commercial transactions and plans to leverage iFood to expand into logistics, financial services and other areas. Movile also operates subsidiaries and products such as PlayKids, Apontador, Rapiddo and Sympla that fit into its broader marketplace strategy. The company has attracted substantial investor capital—over $250 million to date—and is using new funds to scale iFood’s technology platform and accelerate product development. Movile operates a suite of consumer businesses including its Rappido subsidiary and is pursuing a single‑point marketplace for services such as food delivery, ticketing, top‑ups and gaming. The company intends to replicate the integrated super‑app model exemplified by Tencent and Line, and to expand that services suite across Latin America. Movile is backed by Naspers, which increased its commitment to the company as part of the latest financing. The company has reported a compound annual growth rate of 60 percent over the last eight years. The new capital will be used to expand Rappido’s marketplace ambitions and to grow food delivery, ticketing and gaming businesses across the region. Movile’s plan includes launching marketplace features that let users order tickets, top up minutes and get food or groceries through a single messaging point of access.

Total raised

$1.1B

Funding rounds

10

Latest round

Equity

Latest activity

Aug 2021