Delivery venture Rappi closes major Series G funding round
Colombian on-demand delivery startup, Rappi, has bagged approximately $500 million at a $5.25 billion valuation in a Series G round led by T. Rowe Price.
The venture, which launched in 2015, has now raised over $2 billion in total.
It is currently present in nine countries (Colombia, Mexico, Costa Rica, Peru, Ecuador, Chile, Argentina, Uruguay and Brazil) and more than 200 cities.
Rappi’s mobile app lets users order groceries, food and pharmacy medications.
Other services include sending money to other people, and having couriers transport personal belongings (such as house keys, wallets and purses).
Getir
Also in the rapid delivery space, Turkish startup Getir recently concluded a Series D funding round, raising over $550 million and taking the company's valuation to over $7.5 billion.
Investors included Tiger Global and Sequoia Capital, Silver Lake, DisruptAD, and Mubadala Investment Company.
This marked Getir's third round of investment in 2021, with nearly $1 billion raised since the beginning of the year. It is using the latest capital injection to fuel its expansion into the United States.
"Our model and approach to ultrafast delivery is thriving and this latest round of funding further enables us to deliver our best-in-class service to new customers in Europe, the United States and beyond,” said Nazim Salur, Founder, Getir.
“There is great appetite for Getir and rapid grocery delivery. As the pioneers of the market, we continue to stand out by constantly innovating to provide the industry standard.”
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