Deliveroo is offer a £50m funding pot for restaurants, riders and community groups following the launch of its IPO on the London Stock Exchange on Monday (8 March), Sky News has reported.

It is understood the aggregator is looking to portray itself as a responsible corporate citizen following its floatation, which could see its value increase to around £7.5bn.

Since news of its float first surfaced last year, the company has announced aggressive expansion plans to enter around 100 new towns and cities across the UK, launched the rollout of its ‘Signature’ service, and hired a series of high-profile business leaders to join its team.

According to Sky, the five-year Communities Fund will be used to provide grants to restaurants to assist with reopening, following the lockdown, as well as help riders to access affordable electric bikes and provide meals to vulnerable groups.

Deliveroo’s founder Will Shu, said: “Customers, restaurants and riders are at the heart of their local communities - and that’s what we care about too.

”Being recognisable in the community isn’t enough; being part of local communities is what matters. We want to support the initiatives that matter most to our riders, restaurants and riders.”

Last month Deliveroo urged the government to consider reintroducing the Eat Out to Help Out scheme, in order to support restaurants to bounce-back after the lockdown.

In a letter to the Prime Minister, the delivery company and 330 of its restaurant partners said a return of the scheme alongside incentives like the removal of National Insurance contributions and targeted relief to encourage staff recruitment and retention, as well as investment and innovation, would help the sector rebuild post-pandemic.

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