Acquisitions

Rappi acquires Mexican fintech Payit

LatAm ListRappi, a last-mile delivery platform that became Colombia’s first unicorn in 2018, recently announced that they acquired Mexican payments platform, Payit. Rappi did not disclose how much they paid for the fintech startup.

Payit allows users to make rapid and safe online payments using the blockchain for full transparency and security. In 2018, the platform processed over MX$100M (>US$5M).

Payit services will now be fully available through the Rappi app. The fintech startup is currently working to transfer current users’ balance to Rappi.

In an interview with El Economista, Rappi co-founder Sebastian Mejía revealed that the delivery company plans to expand its services and reach several new Latin American countries this year.

Read more in El Economista.

 

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