Rappi
Funding History
| 2018 Growth Round · 08/2018 | $1.0B |
|---|---|
| 2019 SoftBank Round · 04/2019 | $3.5B |
| 2021 Growth Round · 07/2021 | $5.3B |
About
Rappi is a Bogotá, Colombia-headquartered "super app" offering on-demand delivery of restaurant food, groceries, retail goods, and pharmacy items, alongside financial services (RappiPay, RappiBank) across roughly nine Latin American countries and more than 100 cities.
- CEO
- Simón Borrero
- Headquarters
- Bogotá, Colombia
- Founded
- 2015
- Website
- Rappi.com
Overview
Rappi is a Bogotá, Colombia-based "super app" that started as an on-demand delivery service and has expanded into a broad platform for restaurant and grocery delivery, retail, and financial services across Latin America. Founded in 2015 by Simón Borrero, Felipe Villamarín, and Sebastián Mejía, the company went through Y Combinator before raising a series of large growth rounds from SoftBank, T. Rowe Price, Sequoia Capital, Andreessen Horowitz, DST Global, and Delivery Hero, reaching unicorn status in 2018 and a peak disclosed valuation of $5.25 billion in 2021.
Rappi now operates in roughly nine Latin American countries and over 100 cities, and has expanded into financial services through RappiBank and RappiPay, including approval to operate as a regulated financial entity in Colombia. The company reported 2023 revenue of roughly $855 million, up sharply from prior years, after working through layoffs and cost cuts in 2020 and 2023 tied to the broader pullback in delivery-startup financing.
In September 2025, Amazon took a strategic stake in Rappi via a $25 million convertible note carrying warrants to acquire up to 12% of the company if performance milestones are met, deepening a commercial relationship aimed at competing with MercadoLibre in the region; this followed a $100 million senior secured debt facility from Banco Santander and Kirkoswald Capital Partners in August 2025, Rappi's largest debt financing to date; emerging-markets private-credit investor Gramercy Funds Management also separately lists Rappi among the transactions in its published deal record around October 2025, though the specific terms of that transaction have not been independently confirmed.
CEO Simón Borrero has said Rappi has been profitable on an EBITDA basis for multiple consecutive quarters as of late 2025 and is reinvesting those profits while the company evaluates conditions for a possible IPO toward late 2026; as of this writing no S-1 or formal IPO filing has been made, and some commentators have noted Amazon's warrant structure could complicate a future listing.
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