Colombian On-Demand Delivery Unicorn Rappi Raises $1B From SoftBank

▤ Summary

Since its inception in 2015, Rappi has now raised a total of about $1.4 billion—most recently, bringing in around $200 million in a Series D last August that took it to unicorn status, according to the startup’s Crunchbase profile. According to the Latin American Venture Capital and Private Equity Association (LAVCA), Rappi focused on delivering beverages and first, and has since expanded into meals, groceries, tech goods, and medicine. Rappi says that last year, it “expanded the number of products delivered by seven times, and registered a monthly growth of 20 percent” in the seven countries where it operates: Brazil, Colombia, Mexico, Argentina, Chile, Uruguay and Peru. Simón Borrero, Sebastian Mejia, and Felipe Villamarin launched the company in 2015, graduating from Y Combinator the following year. Marcelo Claure, SoftBank Group’s COO, CEO of SoftBank Group International and CEO of Innovation Fund, said of the company:“Rappi’s founders have a bold vision to create the premiere multi-service ‘super-app’ for Latin America, improving the lives of millions in the region.

$ Funding

▦ Linked Companies

Cvent, Inc.

$10M to $25M