The Venezuelan delivery app Yummy launches in Ecuador and Panama as part of continued international expansion plans. Despite launching into a highly competitive food delivery market, Yummy is seeing huge growth and increased revenue.
The delivery app Yummy uses a dark store business model. This model means that customers receive their products in an average of less than 14 minutes, and distinguishes the app from its competitors. Yummy is the first food delivery app that emerged in Venezuela, and it is free for its users. The app has also expanded into other businesses such as pharmacy, shopping, groceries and ride-sharing. The company is receiving more than 70,000 orders a month.
The startup is also launching Yummy Rocket, a quick commerce service that allows customers to order from more local ‘dark stores’ for quicker delivery.
Over 1500 products are available for order on Yummy Rocket, which is being rolled out in Quito and Guayaquil at the end of January. The dark stores operate as small supermarkets that serve as fulfilment and deployment centres for online orders.
“We believe Yummy Rocket can be the largest supermarket in Latin America, one then you never have to step foot in,” said Vicente Zavarce, founder and CEO of Yummy.
Yummy raised two funding rounds last year, and in one of them the startup secured a $4M funding round from Y Combinator, Justin Mateen, Canary, Hustle Fund, Necessary Ventures, and the co-founders of TaskUs.. The company also acquired Bolivia’s Yaigo last year to support its regional expansion. The app is now active in Venezuela, Bolivia, Chile, and Peru.
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