Rappi Stock

Rappi, a Latin American delivery app backed by SoftBank, is partnering with fintech firm R2 to provide $60 million in loans to restaurants in Mexico and Colombia. Restaurants that have been selling via the app for at least three months will be eligible for these loans, which will be repaid through their sales on the app. The program may later expand to other countries where Rappi operates.

Rappi, a food delivery app, is negotiating partnerships with large fast-food chains to compete with market leader iFood, according to CEO Felipe Criniti. The move comes as iFood's exclusivity agreements expire in September due to a consent decree with Brazil's antitrust watchdog Cade. Rappi also plans to expand geographically, aiming to operate in 250 Brazilian cities by 2025.

Latin American super app Rappi, which has raised over $2 billion in funding and boasts over 30 million users, is expanding its services into the travel sector. The company launched Rappi Travel in 2020, a marketplace offering flights, accommodations, car rentals and packages. Rappi is leveraging data to connect supply partners with the right audience and recently signed a partnership with Marriott to enhance travel offerings for both Marriott Bonvoy members and Rappi users.