Food courier Deliveroo, registered under Roofoods Ltd, reported revenue of £128.6 million for 2016, an increase of £18.1 million from last year as the company expanded around the world, but its losses rose from 30.1 million in 2015 to £129 million in 2016.

Overall the company made a gross profit of £1.1 million.

Deliveroo expanded to 140 cities across 12 countries and last year the number of Deliveroo riders worldwide rose from 5,700 in 2015 to 26,500. The expansion of its workforce and opening of new offices was behind rising administrative expenses, which reached £142.2 million last year.

In 2016, Deliveroo raised £208 million from shareholders, representing 29% of the company.

“Deliveroo is going from strength to strength, with revenue jumping by over 600% across our global markets in 2016. Deliveroo is investing heavily in new technology and new sites across the world,” the company announced in a statement. 'We are extremely proud that in only four years Deliveroo now works with over 30,000 riders and 20,000 restaurants to deliver great-tasting food in over 140 cities around the world."

The food courier has been criticised over the rights of its riders. Earlier this year Deliveroo faced a legal battle as the International Workers Union of Great Britain sought to secure workers rights such as sick and holiday pay for its riders. MPs have also condemned the food courier’s gig economy contracts. The Central Arbitration Committee is still investigating whether Deliveroo’s drivers are independent contractors. Deliveroo has also come under fire in the Netherlands and France over employee rights.

Meanwhile, the Guardian reports that Deliveroo’s founder and boss Will Shu has given himself a 22.5% pay rise to £124,999 and handed out close to £4.5 million in share bonuses to directors and hundreds of other head office staff, despite the company’s losses.

“It’s absolutely absurd that while riders are consistently on low wage and without employment rights, Will Shu sees fit to give himself a £25,000 a year raise,” Jason Moyer-Lee, general secretary of the Independent Workers’ Union of Great Britain which is leading the CAC challenge, said. “He should focus on the minimum wage and holiday pay first and reward himself later.”