Colombian Rappi raises over $300M in new funding round

LatamListRappi, the Colombian delivery platform, raised $300M in a recent round of funding which includes funds and accounts advised by T. Rowe Price Associates, Inc., along with other new and existing investors. Among these investors are SoftBank, DST Global, Delivery Hero, Sequoia Capital, Andreessen Horowitz, and YCombinator.

“We’re excited to work with this team of investors that trust our growth model and believe in our region and the role we play, promoting local commerce and actively contributing to the economic recovery of the region. This round of investors will allow us to continue investing in the business, in our partners, and our future,” said the company.

Rappi has led many initiatives since the beginning of the pandemic to support healthcare workers, the events industry, and restaurants. These efforts are part of Rappi’s plans to become a superapp that integrates a variety of services in one platform, from restaurant and supermarket delivery to videogames, entertainment, and financial services.

“There’s no doubt that, for us, as for many others, COVID has brought unprecedented challenges. To overcome these, we’ve focused all of our operations to guarantee a safe experience for our entire ecosystem and to find ways to help our communities get through this crisis,” Rappi added.

Rappi has raised a total of $1.4B in venture capital and is valued at $3.5B. The Colombian unicorn currently offers its services in 9 countries and 205 cities.

Sebastián Mejía, President and co-founder of Rappi, commented on their intentions to go public in the next few years.

“There aren’t any plans that are 100% confirmed, but it is a natural step we would take. We would have to do it where the best tech companies in the world are.”

Read more on Forbes.

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