Rappi, a Colombian delivery startup, first made headlines when it reached the Y Combinator accelerator in 2016, and then again after becoming Andreesen Horowitz‘ first Latin American investment. Today, in a story reported by Axios and TechCrunch, Rappi has raised a further US$200M round at a valuation that added Rappi to Latin America’s list of startup unicorns.
Rappi has grown quickly through a model of inexpensive, flexible, and rapid delivery of just about anything. It is rumored that this investment will be used to help Rappi compete with Uber Eats in Latin America.
The round was led by DST Global, with participation from previous investors Andreesen Horowitz and Sequoia Capital. Rappi is only the second Latin American startup to reach unicorn status through a venture investment in 2018 after Nubank achieved a US$1B valuation after an investment from DST Global in February.
Read more:
Previous LatAm List coverage of Rappi:
Rappi expands to Chile and plans next move in Central America
The battle for last-mile delivery in Latin America
How global tech firms and investors are changing Latin America’s startup ecosystem