Rappi is all-purpose delivery marketplace that connects users who want to purchase prepared foods, groceries, clothes, and virtually anything with independent contractors who can fulfill those needs.
Rappi's multi-vertical app provides digital banking and payment services, in addition to everything from food to pharmaceutical products, consumer package goods and courier services.
Rappi was founded in Jun 1, 2015 by Felipe Villamarin, Sebastian Mejia & Simon Borrero. The company is headquartered Bogota, Distrito Especial, Colombia with operations in México, Brazil, Argentina, Chile, Peru, Ecuador and Uruguay.
Rappi, through its platform, allow customers buy products and services and receive home delivery across multiple categories, including, medical, health, grocery, restaurants, pharmacies, beverage and professional services among others. In addition, the application has a virtual wallet, RappiPayTM, where users can make P2P transfers and payments.
Rappi has also launched, The KuidaTM in-app store within colombia in May 2020. The companies intend to expand distribution through Rappi´s fast growing consumer base to Uruguay and Costa Rica, where Kuida has been approved, and other countries such as Brazil, Mexico and Chile, subject to regulatory approvals.
Rappi has an average of more than 10 million active users monthly, providing deliveries for almost 100,000 businesses in LatAm, including over 13 million deliveries in Colombia alone.
Rappi is backed by DST Global, SoftBank, Sequoia Capital, Andreessen Horowitz, Delivery Hero, Endeavor Catalyst, Redpoint eventures and many others. The company raised $155.9M in a new financing round on Sep 18, 2020. This brings Rappi's total funding to $1.56B to date. The latest round values Rappi at around $3.5B. Rappi was previously valued at $2.5B, after it had raised a $1B Series E round in Apr 2019.