iFood remains at the top most downloaded apps used for purchases in Brazil. Photo: Shutterstock
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Brazilian delivery startup iFood creates BRL 50 million fund to help restaurants

The measure comes a few days after the company announced a BRL 1 million fund to assist delivery personnel

  • Valid from April 2nd, the measures are valid for all 131 thousand partner restaurants of the startup, spread over 912 cities in Brazil;
  • And will be further detailed on March 25th.

Due to the self-isolation of the Brazilian population as a measure to prevent the coronavirus from spreading, the Brazilian startup iFood is creating a fund of BRL $50 million to help its partners establishments. According to O Estado de S.Paulo newspaper, through the fund, the company will allow establishments to anticipate the receipt of payments and will the use of the ‘withdrawal’ tool more flexible, in order to reduce the movement in the restaurants salons.

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Valid from April 2nd, the measures should benefit all 131 thousand partner restaurants of the startup, spread over 912 cities in Brazil, and will be further detailed on March 25th.

According to the newspaper, restaurants that are eligible to be assisted will have a refund of part of the fees charged by the company on orders made from April 2nd.

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“Restaurants that have only one headquarters, the owner is an individual and are in areas of high impact of the coronavirus are among our priorities,” said Diego Barreto, iFood’s financial director, to Estadão.

In this moment of uncertainty, it is important to keep the businesses that make up our ecosystem active and sustainable

Fabricio Bloisi, executive president at iFood told Estadão.

The measure comes a few days after the company announced a BRL 1 million fund to assist delivery personnel who need to be quarantined due to the COVID-19.