Rappi is planning to almost double its reach across South America, according to a report published by Nearshore Americas. The on-demand delivery service currently operates in 55 cities across Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay and hopes to up that figure to 100 cities by 2019’s close.
This rapid expansion has been made possible thanks to SoftBank’s US$1 billion investment in the Colombian start-up, announced earlier this year.
“We are investing ahead of an incredible long-term growth opportunity for Rappi,” Jeffrey Housenbold, Managing Partner at SoftBank Investment Advisers, said at the time of the investment. “This rapidly-scaling company has the potential to expand far beyond its current business and become one of the most important technology companies in Latin America. By creatively addressing the unique market dynamics of the region, Rappi is building a robust technology platform of products and services designed to revolutionize the way consumers shop and live their lives.”