The acquisition comes just one week after the startup announced a $18M Series A funding round. Yummy also raised its $4M seed round in July this year.
Yummy was the first food delivery app to launch in Venezuela. The app has since expanded into other verticals including ride sharing and now has more than 450,000 registered users.
Yaigo is a food delivery startup that is focused on underserved markets in Latin America, similar to Yummy. The company currently operates in Bolivia and Paraguay, two emerging markets.
“We share the vision of connecting underserved Latin America. After expanding to Peru and Chile, we couldn’t imagine a better way to enter Bolivia and Paraguay than with a team of local entrepreneurs,” said Vicente Zavarce, CEO of Yummy.
The Yaigo team will now open ‘dark stores’ in Bolivia and Paraguay from which to run their delivery system alongside Yummy.
Read more on Bloomberg.