Rappi was founded in 2015 by Felipe Villamarin, Sebastian Mejia, Juan Pablo Ortega, Ricardo Bechara, and Simon Borrero. In 2021, Ortega told reporters that “we plan to IPO in the U.S next year,” though the company released a statement to clarify that this comment may not reflect Rappi's official position and "no conversations or external actions have been initiated regarding an eventual IPO for Rappi." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Rappi is a Colombian delivery company that currently operates in nine Latin American countries. The company has also partnered with Visa in order to develop a suite of digital banking solutions. Rappi has acquired Payit and Avocado. The company has raised more than $2 billion in venture capital funding from investors including SoftBank Capital, Sequoia Capital, Delivery Hero SE, Y Combinator, T. Rowe Price, Third Point Ventures, and Andreessen Horowitz. The company was valued at $5.25 billion in 2021.
| Date | Funding Round | Funding Raised | Price per Share | IPO Valuation |
|---|---|---|---|---|
| 7/21/2021 | Series F | $496.1MM raised | $XXX.XX | $XXX.XX |
| 9/24/2020 | Series E | $328.07MM raised | $XXX.XX | $XXX.XX |
| 4/30/2019 | Series D | $710MM raised | $XXX.XX | $XXX.XX |
| 8/31/2018 | Series C | $218.21MM raised | $XXX.XX | $XXX.XX |
| 1/2/2018 | Series B | $183.32MM raised | $XXX.XX | $XXX.XX |
| 1/6/2016 | Series A-1, A-2, A-3, A-4, A-5, A-6, and A-7 | $21.17MM raised | $XXX.XX | $XXX.XX |
