In its search for new sources of revenue, the Berlin-based food delivery service is apparently relying on financial transactions. Delivery Hero restaurants could soon be able to receive loans, as a current job advertisement suggests. The business is worth billions – and is already served by important competitors.
As ordered, so delivered: This could soon also apply to financial products at Delivery Hero. The food delivery service is looking for new revenue streams – and is apparently planning to get into the credit business. This is indicated by a job advertisement that the Berlin company currently has on its website.
Delivery Hero is looking for a so-called “Data Analyst Lending” for the group’s young fintech division as soon as possible. According to the description, this division develops “innovative credit products for various markets” that are aimed at restaurant operators and drivers on the food platform, among others.
The company promises applicants the opportunity to work in a team with high financial relevance: it involves “transactions worth billions”, is it[calledThe person in question should work closely with fintechs and, for example, improve the data basis for issuing loans. Experience in the areas of business intelligence and scoring is desirable.
Order data helps with credit approval
When asked, the company initially declined to comment on which credit products its team is working on. “We are constantly experimenting with new products to improve the experience of our customers and partners,” said a Delivery Hero spokesperson. This also includes financial solutions, especially in Latin America and the Middle East.
However, special financing offers for restaurants are likely, as have long been the norm in many countries. Restaurants often have fluctuating income, while expenses for rent and salaries remain constant. Loans help to close these gaps. The offers are also often used to pre-finance new shops or larger purchases of goods.
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Bank loans are also an option, but they are not always the best choice for restaurateurs. The terms are often expensive and access to funds is not possible at short notice. Delivery services are different: they usually already have a lot of financial data from their restaurant partners. Repayments can be linked to sales, for example, which is advantageous for restaurants with irregular cash flow. At the same time, this reduces the risk of default for delivery services.
No offer in Germany
Delivery Hero would not be a pioneer in this area, however. The US delivery services Doordash and Ubereats, for example, have been offering corresponding credit products for several years. In Germany, Lieferando is advertising a financing offer. Restaurants can receive between 1,000 and 100,000 euros, and after a short online application, the money should be in the account the next working day. Lieferando is cooperating with the Berlin fintech Banxware for the offer. The food delivery service Wolt, which arranges the loans through its financial partner Finmid, is also active in this segment.
However, the possible concern about new competition from Delivery Hero is likely to be limited among providers, at least in this country. Delivery Hero withdrew from the German market in 2021. The company says it is active in 70 countries, with the South Korean, Saudi Arabia and United Arab Emirates markets in particular generating strong sales. Delivery Hero should also find it comparatively easy to enter the market with new financial products there. Unlike in Germany, there are usually fewer regulations outside of Europe, for example when it comes to granting loans and customer screening.
