By Brazil Stock Guide – Chinese delivery giant Keeta, the international arm of Meituan, plans to invest $1 billion over the next five years as it enters Brazil, aiming to break iFood’s dominance. CEO Tony Qiu, former head of 99, told O Globo that Brazil is unique for having one player holding more than 80% market share in a sector worth $12 billion and growing 20% annually.
Qiu said Keeta will not pursue exclusivity contracts with restaurants, a practice banned in China, and will launch later this year in a mid-sized city before moving into São Paulo. The company already has 120,000 delivery partners registered and plans to reach Brazil’s 15 largest metro areas by mid-2026.