Rappi
Transportation
Founded: 2015
Last Round Valuation: $5.25B
Rappi, a pioneering on-demand delivery and logistics platform, has revolutionized the way we access goods and services across Latin America. Founded in 2015 in Bogotá, Colombia, Rappi quickly rose to prominence, reshaping the region's e-commerce landscape. With a commitment to convenience and efficiency, Rappi seamlessly connects millions of users to a vast array of products, including groceries, restaurant meals, pharmaceuticals, and even cash withdrawals. The platform's innovative approach extends beyond traditional deliveries, offering specialized services like Rappi Travel and RappiPay, further enhancing its position as a multifaceted super app. Rappi's impressive growth and dedication to meeting customers' diverse needs have cemented its status as a regional powerhouse, redefining the concept of convenience and elevating the standard of living for countless communities across Latin America.
Rappi Overview:
Rappi is a comprehensive on-demand delivery and logistics platform that operates across several countries in Latin America. Founded in 2015 by Colombian entrepreneurs Simón Borrero, Felipe Villamarin, and Sebastián Mejía, the company has rapidly grown to become one of the region's leading technology startups.
The platform's primary focus is to offer a wide range of delivery services, catering to the diverse needs of its users. Through the Rappi mobile app or website, customers can order groceries, restaurant meals, alcohol, pharmaceuticals, personal care products, electronics, and much more, all with just a few taps on their devices. The extensive and diverse product catalog has contributed significantly to Rappi's popularity and widespread adoption.
One of Rappi's standout features is its unique approach to delivery. The company's fleet includes not only regular delivery drivers but also couriers on motorcycles and bicycles. This diverse workforce enables Rappi to cater to different delivery scenarios, making it more efficient and flexible, especially in congested urban areas.
Beyond its delivery services, Rappi has expanded its offerings to include a variety of specialized services, making it a multifaceted super app. Rappi Travel allows users to book flights, hotels, and rental cars directly from the app, adding to its convenience and positioning it as a one-stop-shop for many travel needs. Additionally, RappiPay provides users with a digital wallet, enabling them to make cashless payments for their orders and access other financial services.
Rappi's success can be attributed to its customer-centric approach and relentless pursuit of innovation. The platform continually seeks to improve its user experience by leveraging advanced technologies and machine learning algorithms to optimize delivery routes, estimate delivery times accurately, and personalize recommendations for each user.
In its quest for growth and expansion, Rappi has secured substantial investments from prominent venture capital firms and investors, including SoftBank, Andreesen Horowitz, DST Global, Sequoia Capital, and others. These investments have fueled Rappi's expansion into new cities and countries, solidifying its presence in the Latin American market.
The company's success hasn't come without challenges, as the on-demand delivery sector is highly competitive, and Rappi faces competition from other players within the region. However, Rappi's strong brand presence, wide range of services, and continuous efforts to innovate have allowed it to maintain a competitive edge.
Rappi's commitment to social impact is also noteworthy. The company has partnered with local organizations to support vulnerable communities during the COVID-19 pandemic, delivering essential goods and supporting small businesses affected by lockdowns.
As Rappi continues to evolve, it remains a dominant force in the Latin American tech industry, contributing to the region's digital economy and shaping the way people access goods and services in their daily lives. With its customer-first approach, innovative mindset, and expansion plans, Rappi is poised to continue transforming the delivery and logistics landscape in Latin America.
Founders:
Felipe Villamarin
Sebastian Mejia
Simon Borrero
Top Investors:
Andreesen Horowitz
Baillie Gifford
Burch Creative Capital
DST Global
Delivery Hero
Endeavor Catalyst
Floodgate Fund
Foundation Capital
GIC
ONEVC
Octahedron
Sequoia Capital
SoftBank
T. Rowe Price
Third Point
Y Combinator
Funding History:
Date | Share Type | Amount Raised | Raised to Date | Issue Price | Post Money Valuation | Key Investors |
---|---|---|---|---|---|---|
Jul 2021 | Series F | $496.1MM | $1.96B | $64.42 | $5.25B | T. Rowe Price, Baillie Gifford, Third Point |
Sep 2020 | Series E | $328.07MM | $1.46B | $59.75 | $3.8B | T. Rowe Price, Andreesen Horowitz, DST Global |
Apr 2019 | Series D | $710MM | $1.13B | $52.06 | $3.12B | SoftBank, DST Global, Y Combinator |
Aug 2018 | Series C | $218.21MM | $422.7MM | $24.17 | $1.45B | DST Global, Endeavor Catalyst, ONEVC |
Jan 2018 | Series B | $183.32MM | $204.49MM | $16.22 | $971.97MM | Delivery Hero, Endeavor Catalyst, Foundation Capital |
Jan 2016 | Series A-6 | $1.47MM | $1.47MM | $2.98 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-4 | $388.54K | $388.54K | $2.18 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-3 | $3.25MM | $3.25MM | $1.98 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-2 | $100K | $100K | $0.88 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-5 | $6.24MM | $6.24MM | $2.48 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-7 | $3MM | $3MM | $5.66 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |
Jan 2016 | Series A-1 | $6.72MM | $6.72MM | $0.95 | $338.84MM | Burch Creative Capital, Floodgate Fund, ONEVC |