Rappi is Valued at $5.25 Billion After New Investment

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Rappi, a Colombian delivery startup, raised $500 million in an investment round led by T. Rowe Price, as announced by the company last Friday (16). With the novelty, the company is now valued at US$ 5.25 billion.

According to data collected by Crunchbase, with this new investment, Rappi will have received more than US$ 2 billion in investment since 2015. The company currently operates in more than 250 cities in Latin America and its last contribution was in September 2020 , in the amount of US$300 million.

The startup has been successful during the covid-19 pandemic with its wide range of services through the app — available for iOS and Android. Through Rappi it is possible to request the delivery of food, clothes, documents, airline tickets and even withdrawal of money.

Earlier this month, however, much criticism was raised after the announcement that the Bogotá-based company would vaccinate its deliverers based on productivity, in addition to salary cuts and mass layoffs.