The Colombian delivery application Rappi obtained more than 300 million dollars in an offer to investors, the company informed this Thursday. Rappi was aiming to raise $350 million, according to a document filed with the U.S. Securities and Exchange Commission (SEC) on September 18, at which time it had ...

“We are happy to work with this team of investors who trust our growth model, who believe in our region and the role we are playing,” the company said in a statement.

It is the first round of investment since the company, founded in 2015, raised $1 billion from SoftBank last year in what was the Japanese giant's first investment in Latin America. Rappi, which operates in nine Latin American countries, is valued at around $3.5 billion and has been one of the beneficiaries of changes in consumption patterns due to the COVID-19 pandemic restrictions. In addition to Softbank, Rappi already included Andreesen Horowitz, DST Global, Delivery Hero, Y Combinator and Sequoia Capital as investors.


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