Deliveroo serves up £50m community fund as £7.5bn float looms

Deliveroo serves up £50m community fund as £7.5bn float looms

Deliveroo will distribute a £50m funding pot to restaurants, riders and community groups as it seeks to portray itself as a responsible corporate citizen following a blockbuster flotation that could value it at around £7.5bn.Sky News understands that the restaurant and grocery delivery app will launch the Communities Fund after an initial public offering in London that will be formally unveiled on Monday.

The five-year pot of money will be earmarked for grants to restaurants to assist them with the cost of reopening after the nationwide lockdown, delivering meals to vulnerable groups and helping its army of riders access affordable electric bikes.It will be announced just days before one of the most prominent IPOs in London for years - the details of which were exclusively revealed by Sky News last month.Will Shu, Deliveroo's founder and chief executive, said: "Customers, restaurants and riders are at the heart of their local