This article originally appeared in El Mercurio, March 12th, 2018.
The battle between Uber, EasyTaxi, and Cabify for Latin America’s rideshare market dominated the region’s newscycle in 2017. With the acquisition of 99 by Didi Chuxing in early 2018, international investors are now turning to Latin America’s fast-growing market for on-demand delivery.
Four companies, Rappi, Glovo, Mercadoni, and Cornershop, which was founded in Chile, raised more than US$300M last year from funds such as the Y Combinator, Andreeson Horowitz, Sequoia Capital, Accel Partners, ALLVP, Movile, and Naspers, among others.
This market is rapidly becoming one of the most competitive in the region. Luckily, consumers are benefitting from the competition, as these startups race to improve their service. If you have not tried one of these services, you can usually receive a significant discount with your first purchase!
International investors are following Latin America’s last-mile delivery market closely, and the competition will likely grow more intense throughout 2018.