iFood aims to become a full-fledged commercial bank within three years
The company plans to offer interest-bearing deposits as early as 2026 and expand financial services beyond restaurants.
247 - iFood, the leader in the Brazilian food delivery market, wants to move beyond being just a meal delivery platform and transform itself into a commercial bank. interview with the newspaper O GloboCEO Diego Barreto stated that the company will request a license from the Central Bank in 2026 to offer interest-bearing deposits and that, within three years, it intends to operate as a full-service bank.
“The short term is the restaurant. The medium term involves the individual customer, but within a logic of generating synergy in my ecosystem,” said Barreto. According to him, the strategy is to strengthen the relationship with restaurants and users based on technology, integrated financial services, and new consumption habits. “Building habits is not based on money, but on the product experience.”
From food to the financial system
iFood has been operating as a fintech company since 2022, offering credit to small and medium-sized restaurants. Currently, the company disburses approximately R$ 160 million per month, with an average term of 18 months, and expects to reach almost R$ 2 billion by 2025.
Barreto stated that the next step will be to offer interest-bearing deposits as early as next year. "Today, I already have a digital account, payment flow, and financial services, but starting next year, I want to offer interest-bearing deposits to restaurants."
The ultimate goal is clear: “I will be a full-fledged commercial bank. When you think of a full-fledged commercial bank, you can imagine that happening within three years.”
Ecosystem expansion: from delivery to the physical world
The company is also investing in in-restaurant service, creating integration between the digital and in-person environments. In some cities, customers can be identified by providing their phone number or swiping their card. In the app, the "Eat Out" feature is already available in São Paulo, offering discounts, cashback, and credit for those who dine in.
This physical movement is directly linked to iFood's financial plan: the more traffic in the establishments, the greater the capacity to offer credit and services.
Technology and artificial intelligence as drivers of growth.
iFood's transformation also involves technology. The executive cites Ailo, a generative artificial intelligence tool, and the development of the Large Commerce Model (LCM), a system with 32 billion parameters and 10 trillion data tokens. The group will invest R$ 17 billion in 2025 and more than R$ 20 billion in 2026.
By using AI, the platform will stop sending generic messages like "Hi, it's time to eat" and instead send personalized messages based on user behavior.
Innovation as a response to competition from 99Food and Keeta.
The return of 99Food and the arrival of the Chinese company Keeta, from Meituan, increase competition in the sector. For Barreto, the only way to maintain leadership is through innovation. “The only way to stand out and effectively reach a leadership position is by innovating. Any other way is not sustainable.”
Asked about a possible dispute over lower rates for restaurants, he compared aggressive strategies with temporary promotions: "After this phase passes, and it does pass, where do you stand then?"
Exclusivity and CADE
While 99Food and Keeta are locked in a dispute at the Administrative Council for Economic Defense (Cade) over restaurant exclusivity, iFood says it doesn't want to get involved in the fight.
"I have no intention of entering this discussion. Exclusivity has to exist when you invest. Exclusivity based solely on money is not positive for the sector."
New categories and marketplace expansion
Besides food, iFood is growing in other areas:
- Convenience and beverages: +250%
- Pharmacy: +80%
- Supermarkets: +60%
The next cycle includes pet shops, flowers, gifts and, in the future, clothing, all within a convenience-based concept. "Don't see me as a competitor to Mercado Livre," said Barreto.
Acquisitions and investments
The company is targeting two technology acquisitions in Brazil and plans to invest at least US$100 million in the next 12 months.
