Colombian on-demand delivery company Rappi will supercharge its offering after raising $1 billion in capital in what is the largest ever funding round for a Latin American company.
The investment announced earlier this week was led by Silicon Valley investor SoftBank two months after its announcement of a new fund committed to spending billions on innovative tech enterprises in Central and South America.
Present in Brazil, Colombia, Mexico, Argentina, Chile, Uruguay and Peru, Rappi now plans to grow further, as well as into additional product and service areas.
The goal of the Colombian firm’s founders is to provide a “super-app” to provide any product or service consumers may need, according to Rappi’s co-founder and president, Sebastian Mejia.
“We will continue to focus on building innovations for couriers, restaurants, retailers and start-ups that translate into new sources of growth,” he said.