Rappi closed a $100M in debt from Kirkoswald Private Credit and Banco Santander, marking the largest debt financing in the company’s history.
Founded in Bogotá in 2015 by Simón Borrero, Sebastián Mejía, and Felipe Villamarín, Rappi operates in nine countries and more than 350 cities across Latin America. The platform offers on-demand food delivery, groceries, courier services, and additional verticals, including ultra-fast delivery, financial services, and travel.
Rappi will use the funds for growth, refinancing, and working capital as it expands operations across Latin America.
Rappi reached a $5.25B valuation in July 2021 and has raised $2.43B across 13 funding rounds from investors including Sequoia Capital, Andreessen Horowitz, T. Rowe Price, Y Combinator, and SoftBank.
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