Colombian startup unicorn is growing wings

After recently receiving a billionaire equity injection, Rappi—Colombia’s single most important unicorn startup—seems to be turning into a Pegasus. Colombian on-demand delivery firm Rappi continues to be the talk of Latin American startups, even more so after Japan’s SoftBank Group announced in late April a $1-billion equity investment in the company. A vote of confidence, no doubt, on a highly appealing investment opportunity. “Our revenues have been growing 20 per cent month to month for 40 months,” said Sebastian Ruales, Rappi’s Corporate Revenue and Commercial Director, during a presentation at eMerge Americas 2019, Miami’s annual tech mega-conference. The equity injection, which adds to a capital raise of $200 million in August led by DST Global and with the participation of […]

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