LatAm List – SoftBank, a Japanese fund, is nearing a $1B investment in Rappi, a Latin American delivery app. The Colombian startup was valued at more than $1B after its last fundraising round in September, which raised $220M from DST Global, turning Rappi into Colombia’s first unicorn.
The investment will most likely be led by SoftBank’s Latin American Innovation Fund, which focuses on technology investments in Latin America and was recently launched by Softbank’s COO, Marcelo Claure. It is expected that Softbank’s Vision Fund, a subsidiary of SoftBank and the largest tech investment fund in the world, will invest along with the Japanese company.
According to Bloomberg, a deal could be announced as soon as this week and could be one of the largest investments ever made in a Latin American company.
SoftBank and Rappi declined to comment.
Read more on Bloomberg.