Rappi gets USD 300 mln investment in new funding round

Tuesday 29 September 2020 13:33 CET | News

Colombia-based on-demand delivery company Rappi has raised over USD 300 million in a new funding round from investors including asset management firm T. Rowe Price.

According to The Techie, Rappi sought to raise up to USD 350 million in the new funding round, as it was indicated by a filing with the US Securities and Exchanges Commission (SEC). Consequently, the investment adds up the total amount of funding that the company has raised since its inception to USD 1.7 billion. However, the valuation that came with the new funding isn't disclosed. 

Overall, Rappi is an on-demand delivery service for a wide variety of products and currently operates in nine countries across LATAM. The company is one of the most capitalised upstarts both in LATAM and globally, and was valued at USD 3.5 billion post-money when Japanese technology conglomerate SoftBank invested USD 1 billion into the company in 2019. Therefore, although Rappi is a LATAM company, has accumulated investments from major investors outside the region. 

Furthermore, some of the  company's current investors include SoftBank, DST Global, Andreesen Horowitz, Delivery Hero, Sequoia Capital, and Y Combinator.

More: Link

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Keywords: Colombia, LATAM, Rappi, investment, funding round, T. Rowe Price, Softbank, DST Global, Andreesen Horowitz, Delivery Hero, Sequoia Capital, Y Combinator
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce