Rappi

Corporate brand

Rappi is a Colombian super-app combining on-demand delivery, commerce, mobility-adjacent services, entertainment, and financial products.

Last updated November 1, 2026

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Overview

Rappi is a Colombian technology and consumer-services brand founded in Bogotá in 2015 by Simón Borrero, Felipe Villamarín, and Sebastián Mejía. It began as an on-demand errands and delivery platform, connecting users with couriers who could purchase or transport items from restaurants, grocery stores, pharmacies, convenience outlets, and other merchants. The company developed around the idea of a single application for frequent urban needs rather than a narrowly defined restaurant-delivery service. The company received an early international technology-company endorsement when it joined Y Combinator's Winter 2016 batch. It subsequently expanded across Latin America and attracted substantial venture financing. In August 2018, Rappi announced a US$200 million funding round. SoftBank became a major investor in April 2019 through a reported US$1 billion investment that valued the company at approximately US$3.5 billion. A later Series G round in 2021 was reported to have raised US$500 million and placed the company's valuation at about US$5.2 billion. These financing events helped Rappi build logistics, merchant acquisition, payments, and financial-services capabilities across multiple countries. Rappi's core proposition is convenience delivered through a broad platform. In addition to restaurant orders, the service has offered groceries, pharmacy products, convenience items, office supplies, courier errands, and other local-commerce categories. By August 2020, the company reported more than 200,000 independent couriers and relationships with more than 250,000 businesses across Latin America. The platform model depends on a network of independent delivery workers, participating merchants, payment partners, and consumers using the application for repeated transactions. The brand has also pursued a super-app strategy. In 2020, during the COVID-19 pandemic, Rappi announced new divisions involving games, live sales, and music in nine countries. The initiative sought to extend engagement beyond delivery and position the application as a broader digital destination capable of competing for users' time with entertainment and commerce platforms. Financial services became another major expansion area. Rappi partnered with Visa to provide prepaid-card and wallet services in Mexico, Colombia, and Brazil, and developed RappiPay relationships with financial institutions including Davivienda in Colombia. RappiBank was launched in Mexico through an alliance with Banorte, while Rappi received approval in 2022 to become a bank in Colombia. Its financial-services activities have included digital accounts, payment products, credit cards, merchant working-capital facilities, and announced cryptocurrency-payment functionality. Rappi operates from Bogotá and maintains offices in São Paulo and Mexico City. Its growth has been accompanied by labor, consumer-protection, and intellectual-property controversies. Couriers have protested working conditions, while regulators and critics have questioned customer-support processes, pricing transparency, complaint handling, and the legal status of platform work. The company and co-founder Simón Borrero have also faced allegations concerning the alleged misappropriation of another company's trade-secret or platform concept; the available reference material does not establish a final resolution. In 2024, Rappi announced the acquisition of AI company Fountain9 to strengthen artificial-intelligence operations, and Borrero said the company could be ready for an initial public offering in approximately a year. Rappi remains an active Latin American platform brand whose identity combines delivery infrastructure with payments, banking, entertainment, and local digital commerce.

History

Rappi was established in Bogotá in 2015 by Simón Borrero, Felipe Villamarín, and Sebastián Mejía. Its initial proposition was an application through which users could ask independent couriers to purchase or deliver goods and complete everyday errands. This model gave the company a broad starting point: instead of limiting the service to restaurant meals, Rappi could connect consumers with grocery stores, pharmacies, kiosks, office-supply sellers, and other neighborhood businesses. The company received an early boost from its admission to Y Combinator's Winter 2016 batch. It then pursued rapid regional growth, building a marketplace that depended on three interconnected groups: consumers, merchants, and independent couriers. Funding became an important mechanism for geographic expansion and technology development. Rappi announced a reported US$200 million financing round in August 2018. In April 2019, SoftBank became a major stakeholder through a reported US$1 billion investment, with the transaction valuing Rappi at approximately US$3.5 billion. Around the same period, Borrero, Villamarín, and Mejía received international recognition connected with the company's role in transforming Latin American commerce and logistics. Rappi's delivery network expanded substantially during the COVID-19 period, when consumers increasingly relied on digital ordering and home delivery. By August 2020, the company reported more than 200,000 independent couriers and more than 250,000 participating businesses across Latin America. The pandemic also encouraged Rappi to broaden the application beyond physical deliveries. In June 2020, it announced games, live sales, and music divisions in nine countries. These initiatives reflected the company's ambition to become a super-app: a single consumer interface that could combine transactions, entertainment, payments, and other digital services. Financial services became a second major growth pillar. In 2019, Rappi partnered with Visa to provide prepaid-card services in Mexico, Colombia, and Brazil after acquiring the Mexican startup Payit. It also developed the RappiPay digital-wallet brand and formed a financial alliance with Davivienda in Colombia. RappiBank was launched in Mexico in 2021 through a partnership with Banorte. In Colombia, the company received approval in 2022 to become a bank. Its financial offerings have included digital savings accounts, payment products, credit cards, merchant working-capital lines, and cryptocurrency-payment functionality. These services allowed Rappi to use transaction data, consumer relationships, and merchant activity to extend beyond logistics. The company raised further capital in 2021. Its Series G financing was reported at US$500 million, with investors including T. Rowe Price, Baillie Gifford, Third Point, Octahedron, GIC, SoftBank, DST Global, Y Combinator, Andreessen Horowitz, and Sequoia Capital. The round placed the reported valuation at approximately US$5.2 billion. Rappi continued to invest in technology and, in September 2024, announced the acquisition of AI company Fountain9 to enhance its artificial-intelligence capabilities. That year, the company was also included in Time's list of influential companies. Co-founder Simón Borrero said in September 2024 that Rappi could be ready for an initial public offering in roughly one year, although no listing had occurred in the supplied material. Rappi's growth has generated persistent criticism. Couriers have protested working conditions, and critics have raised concerns about employment protections, customer-service access, price disclosure, complaint channels, and compliance with Colombian electronic-commerce rules. The company and Borrero have also faced legal allegations concerning the alleged misappropriation of a competing platform idea or trade secrets. The supplied references do not provide final outcomes for these disputes. Rappi therefore represents both the promise and the tensions of Latin America's platform economy: it has assembled a large regional marketplace and diversified into finance and entertainment, while facing scrutiny over regulation, labor, consumer rights, and intellectual property.

2024
Fountain9 acquisition announced
[1]Rappien.wikipedia.org
Rappi announces the acquisition of AI company Fountain9 to support its artificial-intelligence operations.
2022
Colombian banking approval
[1]Rappien.wikipedia.org
Rappi receives approval to become a bank in Colombia.
2021
Series G financing
[1]Rappien.wikipedia.org
Rappi closes a reported US$500 million Series G round at an approximately US$5.2 billion valuation.
2021
RappiBank launches in Mexico
[1]Rappien.wikipedia.org
Rappi launches a Mexican fintech and banking-services offering through an alliance with Banorte.
2020
Super-app divisions announced
[1]Rappien.wikipedia.org
The company announces games, live sales, and music offerings in nine countries.
2019
SoftBank becomes a major investor
[1]Rappien.wikipedia.org
SoftBank makes a reported US$1 billion investment, with Rappi valued at approximately US$3.5 billion.
2019
Expansion into prepaid cards and digital payments
[1]Rappien.wikipedia.org
Rappi works with Visa and financial partners to develop prepaid-card and RappiPay services in Mexico, Colombia, and Brazil.
2018
Major funding round
[1]Rappien.wikipedia.org
Rappi announces a reported US$200 million financing round during its regional expansion.
2016
Admission to Y Combinator
[1]Rappien.wikipedia.org
Rappi joins Y Combinator's Winter 2016 batch and receives additional early-stage investment and exposure.
2015
Rappi is founded in Bogotá
[1]Rappien.wikipedia.org
Simón Borrero, Felipe Villamarín, and Sebastián Mejía establish Rappi as an on-demand errands and delivery platform.

Products and positioning

A Latin American super-app focused on everyday convenience, combining last-mile delivery and local commerce with payments, banking, merchant services, and digital entertainment.

On-demand delivery · 2015
Rappi delivery marketplace
Rappi's central application connects consumers with restaurants, grocery stores, pharmacies, convenience retailers, kiosks, office-supply businesses, and couriers. Users can order goods for delivery or request errands, while merchants gain access to a digital ordering channel and last-mile logistics. The service is built around independent couriers and a broad local-commerce network rather than a single retail category.
Digital payments · 2019
RappiPay
RappiPay is the brand's digital-wallet and payment-services initiative. It developed through partnerships with Visa and financial institutions including Davivienda, with activity reported in markets such as Mexico, Colombia, and Brazil. The offering supports Rappi's broader strategy of retaining users inside an integrated commerce and financial-services ecosystem.
Digital banking · 2021
RappiBank
RappiBank represents Rappi's expansion into digital financial services. In Mexico, it was launched through an alliance with Banorte. In Colombia, Rappi later received approval to become a bank. The financial-services portfolio has included savings accounts, payment products, credit cards, and credit facilities for participating merchants.
Digital entertainment · 2020
Rappi entertainment and live-commerce services
In 2020, Rappi announced divisions for games, live sales, and music in nine countries. These services were intended to increase the frequency and breadth of engagement with the application, supporting the company's positioning as a super-app rather than only a delivery intermediary.
Business finance
Merchant financial services
Rappi has offered working-capital credit lines and related financial services to restaurants and other merchants participating in its marketplace. These products extend the relationship from order aggregation and delivery into merchant financing, using the platform's ongoing commercial activity as part of the service model.

Controversies

2021
Coljuegos fines and bans Rappi over unauthorized promotional gaming
Colombian gaming regulator Coljuegos determined that the "RappiPolla Mundial" game operated by Rappi SAS was run illegally. Coljuegos fined Rappi SAS COP78.1 million and imposed a five-year ban on operating gaming. The action concerned the unauthorized promotional game, and the regulator's findings were reported in coverage of the decision.
Source
2019
Consumer-protection and complaint-handling scrutiny
Colombian authorities criticized aspects of Rappi's electronic-commerce compliance, including complaint channels, terms and conditions, price transparency, and the handling of customer complaints. The supplied reference also reports numerous consumer-protection lawsuits.
Source
2019
Alleged misappropriation of platform concept or trade secrets
Simón Borrero and Rappi faced allegations that the company had appropriated another company's idea for a platform connecting users with people willing to perform errands. The supplied material also describes a U.S. federal trade-secret lawsuit; it does not establish a final judgment.
Source
2018
Courier protests and working-condition criticism
Some Rappi couriers protested in October 2018. The company was criticized over working conditions, the treatment of delivery workers, and customer-support practices.
Source
Employment-policy and vaccination-access criticism
Critics accused Rappi of predatory employment policies and reported allegations that the company intended to make workers compete for access to COVID-19 vaccinations. The supplied material does not provide a final regulatory or judicial outcome.
Source

2020Super-app expansion announcement
Latin America · Nine countries
Rappi used a live event during the COVID-19 period to announce games, live sales, and music divisions, presenting the application as a broader entertainment and commerce platform.
Outcome. The announcement reinforced Rappi's super-app positioning and expanded its stated scope beyond delivery.
Source

Brand decisions

2024
Acquire Fountain9M&A
Background
Rappi sought to improve the artificial-intelligence capabilities supporting its operations.
Action taken
Rappi announced the acquisition of AI company Fountain9.
Aftermath
The transaction positioned AI as a stated component of Rappi's operational and technology strategy.
Source
2022
Add cryptocurrency paymentsProduct launch
Background
Rappi continued to broaden its financial-services portfolio and payment capabilities.
Action taken
The company announced cryptocurrency payments as part of its financial-services offering.
Aftermath
The supplied material does not provide adoption figures or a later assessment of the initiative.
Source
2021
Launch RappiBank in MexicoProduct launch
Background
Rappi wanted to extend its consumer application into regulated digital financial services.
Action taken
It launched RappiBank in Mexico through an alliance with Banorte.
Aftermath
The launch was followed by further financial-services expansion and Colombian banking approval.
Source
2020
Pursue a broader super-app modelStrategy
Background
During the pandemic, Rappi aimed to deepen user engagement and compete for attention beyond food and goods delivery.
Action taken
The company announced games, live sales, and music divisions across nine countries.
Aftermath
The announcement broadened Rappi's public positioning from delivery marketplace to integrated commerce and entertainment platform.
Source
2019
Expand from delivery into financial servicesStrategy
Background
Rappi sought to increase the frequency and value of customer and merchant relationships beyond delivery transactions.
Action taken
It partnered with Visa, developed RappiPay, and worked with financial institutions including Davivienda to offer payment and prepaid-card services.
Aftermath
The move established financial services as a major part of Rappi's super-app strategy and preceded its later banking initiatives.
Source

Recent events

2024
Tiago Azevedo joins Rappi as chief financial officer[1]Rappien.wikipedia.org
Leadership change
Rappi appointed Tiago Azevedo as chief financial officer.
2024
Rappi announces acquisition of Fountain9[1]Rappien.wikipedia.org
M&A
Rappi announced the acquisition of AI company Fountain9 to strengthen its artificial-intelligence operations.
2022
Rappi receives approval to become a bank in Colombia[1]Rappien.wikipedia.org
Regulation · Product launch
The company obtained approval to operate as a bank in Colombia and continued developing accounts, payment products, and credit services.
2022
Rappi announces cryptocurrency payments[1]Rappien.wikipedia.org
Product launch
Rappi announced crypto-based payment functionality as part of its financial-services portfolio.
2021
Rappi completes a reported US$500 million Series G round[1]Rappien.wikipedia.org
Other
The financing round was reported to value Rappi at approximately US$5.2 billion and included existing and new institutional investors.
2021
Rappi launches RappiBank in Mexico[1]Rappien.wikipedia.org
Product launch
Rappi introduced a Mexican fintech offering through an alliance with Banorte, extending the brand beyond delivery into digital financial services.
2020
Rappi expands into games, live sales, and music[1]Rappien.wikipedia.org
Product launch
During the pandemic, Rappi announced three entertainment and commerce divisions across nine countries as part of its super-app strategy.
2019
SoftBank makes a major investment in Rappi[1]Rappien.wikipedia.org
Other
SoftBank became a major stakeholder through a reported investment that valued Rappi at approximately US$3.5 billion.
2018
Rappi raises reported US$200 million[1]Rappien.wikipedia.org
Other
Rappi announced a major funding round as it expanded its delivery and local-commerce network across Latin America.
2016
Rappi joins Y Combinator's Winter 2016 batch[1]Rappien.wikipedia.org
Other
The company entered Y Combinator's Winter 2016 program, gaining additional visibility and investment support during its early expansion.

Sources7 sources

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