This Rappi company profile covers the company's valuation, revenue, funding rounds, investors and history. Rappi works in consumer internet, with a focus on delivery super app. It was founded in 2015 and is headquartered in Bogotá, Colombia. Its latest valuation on record is US$5.25 billion (July 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Profitability | Four consecutive profitable quarters with positive EBITDA, according to CEO Simón Borrero | 2025 | Bloomberg Línea |
| Amazon investment | US$25 million convertible note plus warrants for up to 12% of Rappi if milestones are met | September 2025 | PYMNTS |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Sep 2025 | Convertible note and warrants | US$25M | Not disclosed | Amazon | PYMNTS |
| Jul 2021 | Series F | About US$500M | US$5.25B | T. Rowe Price (lead) and others | Wikipedia |
Rappi timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2015 — Rappi is founded in Bogotá by Simón Borrero (CEO), Sebastián Mejía and Felipe Villamarín.
- Jul 2021 — Series F: About US$500M, valuing the company at US$5.25B. Investors: T. Rowe Price (lead) and others.
- Sep 2025 — Convertible note and warrants: US$25M. Investors: Amazon.
- 2025 — Profitability: Four consecutive profitable quarters with positive EBITDA, according to CEO Simón Borrero.
- September 2025 — Amazon investment: US$25 million convertible note plus warrants for up to 12% of Rappi if milestones are met.
Investors
Overview
Rappi is a delivery "super app" in Latin America. Through one app, customers order restaurant meals, groceries, pharmacy items and other goods, often delivered in under an hour, and use financial services such as a credit card and payments. It operates in nine countries, including Colombia, Mexico, Brazil, Argentina, Chile and Peru, and is one of the best-known startups in the region.
Simón Borrero, the CEO, Sebastián Mejía and Felipe Villamarín founded Rappi in Bogotá in 2015. It went through Y Combinator in 2016, and its rapid growth made it Colombia's first unicorn. Its distinctive orange branding and delivery couriers, known as "Rappitenderos", are a common sight in Latin American cities.
How Rappi makes money
Rappi earns commissions from restaurants and stores on orders, delivery fees from customers, subscription fees from its Rappi Prime membership (which offers free delivery and discounts), and advertising from brands and merchants who pay to be promoted in the app. It also runs its own "Turbo" dark stores for very fast grocery delivery, earning a margin on products sold. Its financial services, including RappiCard credit cards and RappiPay, add interest and fee income, often in partnership with banks.
Profitability
Rappi spent heavily for years to grow across many countries, with large losses. After the 2022 tech downturn, it cut costs and focused on efficiency. In 2025, Borrero said Rappi had been profitable for four consecutive quarters with positive EBITDA, was reinvesting its profits in growth, and didn't need to raise new private funding. Rappi doesn't publish detailed financial statements, so we show revenue as not disclosed.
Funding history
Rappi raised roughly US$2.3 billion or more from investors including SoftBank, which invested about US$1 billion in 2019, Sequoia Capital, Andreessen Horowitz, DST Global, T. Rowe Price and Y Combinator. Its last large equity round, a Series F of about US$500 million in July 2021 led by T. Rowe Price, valued it at US$5.25 billion.
In 2025, Rappi took a US$100 million senior secured loan from Banco Santander and Kirkoswald Capital Partners. In September 2025, Amazon invested through a US$25 million convertible note with warrants that could let it buy up to 12% of Rappi if certain milestones are met. Rappi is already an Amazon Web Services customer, and Amazon offers Prime members in Mexico free delivery benefits through Rappi.
Competitive landscape
Rappi competes with iFood, the dominant food delivery app in Brazil; with DiDi Food and Uber Eats in Mexico and other markets; with Mercado Libre, Latin America's largest e-commerce company, in groceries and fintech; and with supermarkets' own delivery services. Its advantages are breadth of services, brand recognition across many countries, and fast grocery delivery.
The IPO question
Borrero has said Rappi is evaluating market conditions for an IPO, with timing around late 2026 mentioned in interviews, though he also noted conditions weren't yet ideal. No filing has been made public. A listing, likely in the US, would be one of the largest from Latin America's tech sector.
What to watch next
Watch whether profitability is sustained, whether Amazon exercises its warrants, growth of Turbo grocery delivery and financial services, competition from iFood and Mercado Libre, and IPO timing.
Key facts at a glance
Rappi is a Bogotá delivery super app founded in 2015 by Simón Borrero, Sebastián Mejía and Felipe Villamarín, operating in nine Latin American countries. It was valued at US$5.25 billion in a 2021 Series F, reported four consecutive profitable quarters in 2025, and received a US$25 million convertible note from Amazon with warrants for up to 12%.
Warrants as a strategic tool
Amazon's investment combined a small upfront convertible note with warrants: the right to buy shares later at agreed terms if milestones are met. Amazon has used similar structures with partners such as airlines and logistics companies. Warrants align the partner's incentives with Amazon's: if the partnership succeeds and Rappi's value rises, Amazon benefits. For Rappi, it brings a powerful partner without immediately giving up a large stake. When reading about such deals, distinguish between the money actually invested and the potential stake.
Delivery economics
Food and grocery delivery is a hard business. Each order must cover the courier's pay, the app's costs, discounts and customer service, and margins are thin. Profitability usually depends on order density (many orders in a small area), larger baskets, subscription revenue, and advertising, which adds income without extra delivery costs. Rappi's turnaround to profitability shows these levers can work, but competitive price wars can quickly erode them.
The Turbo bet
Rappi's Turbo service delivers groceries and everyday items in around ten minutes from small dark stores located close to customers, similar to Zepto in India. Fast grocery delivery builds habits, because customers order frequently, and it gives Rappi more control over product range and margins than delivering from third-party supermarkets. It also requires investment in stores, inventory and staff. Making Turbo profitable depends on order density: each store must handle enough orders a day to cover its costs. Rappi has described Turbo as a priority, and its success will be an important factor in the company's results.
Questions to ask about a delivery platform
- What share of orders come from subscribers, and how often do they order?
- How much revenue comes from advertising and fintech rather than delivery fees?
- Which countries are profitable, and which still need investment?
- How do courier pay and regulation affect costs in each market?
What this means if you're…
A restaurant or retailer in Latin America: compare delivery apps on commission rates, advertising options and customer reach.
A founder: Rappi shows how a company can move from heavy losses to profitability by focusing on efficiency.
An investor: weigh the 2021 valuation against current profitability and Amazon's potential stake.
Latest developments (October 2026)
Rappi has now strung together several profitable quarters. Chief executive Simón Borrero told Bloomberg Línea that the company reinvests its profit into growth and is weighing an IPO, possibly from late 2026. Colombian business daily La República reported a 2025 net profit of about COP 210 billion, the second profitable year in a row. Rappi also sold its RappiCard business in Mexico to Banorte for a reported US$50 million. No new valuation has been disclosed. See our largest Latin American startups guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Rappi do?
Rappi is a consumer internet / delivery super app company headquartered in Bogotá, Colombia. It was founded in 2015.
What is Rappi's valuation?
Rappi was valued at US$5.25 billion as of July 2021, according to Wikipedia. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Rappi make?
Rappi is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Rappi's latest funding round?
The most recent financing we have verified is a convertible note and warrants in Sep 2025: US$25M. Source: PYMNTS.
Who are Rappi's investors?
Investors named in public announcements include Amazon, SoftBank, T. Rowe Price, Sequoia Capital, Andreessen Horowitz, Y Combinator and DST Global.
Who founded Rappi?
Rappi was founded in 2015 by Simón Borrero (CEO), Sebastián Mejía and Felipe Villamarín.
Is Rappi a public company?
No. Rappi is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Rappi headquartered?
Rappi is headquartered in Bogotá, Colombia.