Dozens of Deliveroo drivers protested outside the company's central London headquarters on Thursday (11 August) in a bitter dispute over a change in the way staff are to be paid.

The food delivery company, which recently raised $275m (£212m, €246m) from investors for expansion, wants to end the current £7-an-hour, plus £1 per delivery, London drivers currently receive to instead pay £3.75 per delivery.

About 40 of its drivers demonstrated outside its offices in Torrington Place, Fitzrovia, complaining the changes will make it harder to take home the same pay.

Drivers held signs saying "Deliveroo or Slaveroo", with one shouting on a megaphone: "They're cutting our pay and we're making them millions. It's not fair."

Delivery couriers, who were also pictured driving en masse down West Hampstead's high street, work for the company on a self-employed basis.

One protesting told the Huffington Post: "We have many spending [expenses]. We're paying for our insurance, for our service and we're paying for motorcycle oil ... They're offering £3.75 per drop. The average driver does like 20 drops a day. That means [the] average driver takes home £60 or £70, and maybe £50 clear after spendings."

Another driver said Deliveroo had threatened him and his colleagues with being sacked unless they signed up to the new deal – something denied by the company.

Deliveroo started trialling the new payment model in London this week, which it said was "designed to enhance flexibility and based on extensive rider feedback". It added: "Along with this increased flexibility, we've seen average hourly fees for riders in previous trials rise to more than 2.1 times the previous payment model at our busiest times."

Deliveroo UK managing director Dan Warne addressed the protestors outside the office, saying it was a "change in payment method, not lower wages". He added: "We're happy to speak with each and every one of you. We have a team upstairs that do that."

He disappeared inside after five minutes after many of the drivers began to heckle him. The company did not say what impact the protest was having on its delivery service.

A statement from Deliveroo said: "Speaking with our riders and hearing their concerns on the new model is our top priority right now. We're committed to an open conversation with our rider community as the situation evolves, so we can continue to improve our payment model and delivery experience."