Rappi, the Colombian startup leading the way in Latin America
One of the established Colombian startups in the Latin American market, known for its efficient service, is Rappi.
The Colombian startup Rappi is a multinational company that serves as an intermediary platform for various types of users.
It was founded in Colombia in 2015 by Simón Borrero, Sebastián Mejía, and Felipe Villamarín, all hailing from Cali, and today it operates in 9 countries across Latin America.
This Colombian startup has a presence in Mexico, Costa Rica, Colombia, Peru, Ecuador, Chile, Argentina, Uruguay, and Brazil, spanning more than 250 cities. It maintains offices in Bogotá, São Paulo, and Mexico City.
Rappi has been dubbed the Latin American SuperApp and is one of the fastest-growing companies in the region.
In 2019, its founders were included in the Bloomberg 50 list, recognizing them as entrepreneurs and leaders who have reshaped the global business landscape.
Within this Colombian startup, users can access a variety of options, including restaurants, supermarkets, pharmacies, specialized stores, and various services through features like RappiMall (E-commerce), RappiCash (cash payments), RappiAntojo (any item from any store), RappiFavor (messaging services), RappiMobility (mobility solutions), and RappiEntertainment (music, games, events, and betting).
In September 2018, Rappi achieved a valuation of $2 billion, becoming the first “unicorn” created by Colombians.
By the summer of 2021, Rappi raised its valuation to $5.2 billion after closing its latest Series G investment round and securing $500 million in funding.
Some of the participants in this funding round included T. Rowe Price, Baillie Gifford, Third Point, Octahedron, GIC SoftBank, DST Global, Y Combinator, Andreessen Horowitz, and Sequoia Capital.
Undoubtedly, Rappi’s core focus is on delivery services, spanning from vegetarian restaurants to specialized eateries and major restaurant chains.
However, it also provides restaurants with management tools, including POS systems, inventory management, order and delivery management, detailed order tracking, a structured advertising system, self-management tools, and more.
One of its advancements in Colombia is the creation of RappiCuenta, which, since its launch in February 2023, already boasts 170,000 users as of July 2023.
By the end of the year, they anticipate reaching 500,000 users with RappiCuenta.
This Colombian startup serves as a hallmark of quality for Latin American entrepreneurship and is undoubtedly an example to follow.
In Colombia alone, Rappi operates in 60 cities and 72 municipalities, with over 60,000 active delivery drivers on the platform, more than 30,000 partner businesses, and over 500 ghost kitchens.
Also read: Who Was Don Carolino, the Urban Poet of Aguascalientes.
