Yummy secures USD 47 mln to grow its super app in LATAM

Friday 3 June 2022 15:18 CET | News

US-based ecommerce platform Yummy has raised USD 47 million to grow its delivery, ride-sharing app in LATAM.

The super app provides delivery of items, from food to medicine to clothing, ride-sharing, and grocery delivery in under 20 minutes and the purchase of experiences like concerts and sporting events. The company has also moved on from its initial markets of Venezuela and Bolivia and into Peru and Panama. In addition, it partnered with quick-serve restaurants, including KFC, Arturo’s, and Burger Shack to provide exclusive offerings for customers.

This latest investment is nearly three times higher than the amount Yummy announced in October 2021. In 2021, the company had about 200,000 registered super app users, and that now sits at 2.5 million users, according to the press release. It is also providing gig worker jobs in the region.

For its grocery business, its goal in 2021 was to have 50 active dark stores by the end of 2022. It has 21 of its own microfulfilment centres and also works with partner-owned facilities. Meanwhile, company officials stated that the ride-sharing business, which includes both motorcycle and car options, became the first of Yummy’s business units to achieve profitability.

Altogether, Yummy is working with over 8,000 merchants, processing 800,000 monthly transactions across its markets and growing over 40% quarter over quarter. The average cart size varies per category, but on the prepared food side, it is USD 14, while groceries are USD 30.

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Keywords: ecommerce, delivery, funding, expansion, super app
Categories: Payments & Commerce
Companies: Yummy
Countries: Latin America
This article is part of category

Payments & Commerce


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