Prosus says Just Eat Takeaway returns to growth as iFood holds 80% of Brazil’s market

Prosus N.V., the global internet group linked to Koos Bekker, said Just Eat Takeaway has returned to order growth while its Brazilian food delivery business iFood continues to defend its dominant market position despite intensifying competition.

In a letter to partners dated October 8, 2026, the Dutch investment group led by Fabricio Bloisi said Just Eat Takeaway’s orders returned to year-on-year growth in September after declining for 55 consecutive months.

Just Eat Takeaway returns to growth

Bloisi said orders at Just Eat Takeaway were declining 9% when Prosus took control of the business in December. The turnaround followed investments in technology, logistics, product development, customer retention and marketing. He said the company will continue focusing on improving the profitability of each order, using a strategy that has previously been applied successfully at iFood in Brazil.

Bloisi added that Prosus is deliberately investing in Just Eat Takeaway and iFood despite the potential impact on short-term profitability. He said Europe’s size and structural attractiveness support the investment in Just Eat Takeaway, while Brazil’s importance and iFood’s operational strength underpin its continued investment in the market.

The approach involves testing, optimizing and scaling successful initiatives while using technology to drive cost efficiency.

iFood maintains dominance in Brazil

Meanwhile, iFood has maintained approximately 80% of Brazil’s nationwide food delivery app market despite heightened competition over the past 18 months.

Bloisi said competitors have been spending approximately $150 million per month while operating at significant losses, but iFood has retained most of its market position.

The platform has lost approximately five percentage points of market share, compared with roughly 20-point declines experienced by market leaders in other regions facing similar competitive pressure.

iFood expands beyond food delivery

Prosus said iFood’s growth is increasingly supported by a broader ecosystem serving approximately 80 million recurring customers. Its Hits value offering is growing 70% compared with the previous six months, while quick-commerce customers order twice as frequently and have 18% higher retention than regular customers.

Meal-voucher customers have 30% better retention, while loyalty members order at twice the average frequency. Beyond food delivery, iFood’s non-food delivery businesses are growing revenue by almost 50% year-on-year and now account for approximately 40% of total revenue.

The company also said restaurants using iFood as their primary delivery channel grow 30 percentage points faster annually on average and are 60% less likely to shut down.

Prosus prioritizes long-term growth

Prosus N.V., founded in 1997 under the leadership of Koos Bekker, has grown into a global consumer Internet group and one of the world’s largest technology investors. The group, a division of the renowned South African multinational conglomerate Naspers, which is also run by Bekker, has a diverse international portfolio that includes investments in top fintech, social media, ed-tech, and food delivery system firms. Bekker’s nearly 1% stake in Prosus is worth more than half a billion dollars as of the time of writing.

Prosus’ wider portfolio is also performing strongly, with OLX growing profitably, Despegar expanding by more than 20%, and PayU scaling as a profitable business.

Bloisi said the combination of improving Just Eat Takeaway orders, iFood’s market-share resilience and profitable growth across the wider portfolio indicates that Prosus is executing on its long-term strategy.