Colombian on-demand delivery startup Rappi raises ‘over’ $500M at a $5.25B valuation

Rappi, an on-demand delivery startup based in Colombia, has announced the completion of the latest Series F funding round in which it claims to have raised more than US$500m at a US$5.25bn valuation. 

This comes on the heels of a September round in which it raised US$300 million.

The round was led by T. Rowe Price, with the participation of Baillie Gifford, Octahedron, GIC, Third Point, and SoftBank. Rappi’s existing investors are Andreessen, DST Global, Horowitz, Sequoia Capital, and Y Combinator.

Crunchbase records show that the newly available funding brings the Bogota-based firm’s total capital volume acquired so far to US$2 billion.

Rappi was co-founded by Simón Borrero, Sebastian Mejia, and Felipe Villamarin in 2015. As of this month, the firm has a presence in nine nations and over 250 cities across Latin America.

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