On demand delivery startup raises $1 billion from Softbank
BOGOTÁ, Colombia-- Rappi, an on-demand delivery startup operating in Latin America, today announced an investment of up to $1 billion from SoftBank Group Corp. (“SBG”) and SoftBank Vision Fund (“Vision Fund”).
The investment marks the largest technology financing to date in a Latin America-based company.
SBG and the Vision Fund will each invest up to $500 million in Rappi.
“SoftBank’s vision of accelerating the technology revolution deeply resonated with our mission of improving how people live through digital payments and a super-app for everything consumers need. We will continue to focus on building innovations for couriers, restaurants, retailers and start-ups that translate into new sources of growth"
Founded in 2015, Rappi has emerged as the leading service app in the L...