The value of transactions made through Deliveroo almost doubled last year due to a surge in demand for takeaway food during the pandemic, the food delivery firm said this morning ahead of its London listing.
The firm’s gross transaction value – the total amount of cash it processes on its platform – grew 64 per cent, from £2.5bn in 2019 to £4.1bn in 2020.
An increase in monthly active customers, greater engagement from its existing consumer bases and a higher spend per transaction drove the growth.
Deliveroo said underlying gross profit soared 89.5 per cent to £358m in 2020, compared to £189m in the previous year.
It narrowed underlying losses for the year to £223.7m, compared to £317m in 2019.
Deliveroo reported its latest financial results alongside the publication of its Expected Intention to Float, ahead of the launch of its London listing.
In a statement this morning, Deliveroo founder and chief executive Will Shu said: “Now we take the next big step in our journey by allowing everyone to have a share in our future.
“That’s why we are planning to take Deliveroo public here in London, the city where it all started – and we plan to offer our customers across the UK the chance to own a part of the business.
“We are proud to be enabling our customers to participate in a future float and have the chance to buy shares. Your loyalty and custom has helped build our business. I want you to have a chance to share in our future.”