image credit : Rappi

Colombia based on-demand delivery startup Rappi has now been confirmed to have raised a new $200 million round led by DST Global with participation from Andressen Horowitz and Sequioa Capital, All previous investors in the 3 year old startup now said to be valued north of $1 Billion.

This will bring the total amount of funding secured by Rappi to nearly $400 million with the company notably raising $130 million in a funding round January this year from the likes of Delivery Hero, FJ Labs, Endeavor Catalyst, Redpoint Ventures and several others.

This round also notably marks Rappi as the 2nd Latin American startup to join the unicorn club with Brazillian fintech startup Nubank previously occupying the main position after a $150 million funding led by DST who also led this round which gave the firm a private valuation of $2 Billion.

image credit : Rappi

Regardless of valuations, This marks very good growth in the Latin American startup space as more firms pop up in the area in line with venture funding growth being seen in the region.

Since its start in 2015, Y-Combinator alum Rappi has grown by a very wide range with its deliveries spanning across grocery, meals, gadgets and even medicine services.

Other investors in the Bogotá based on-demand delivery firm include ONEVC, ZX Ventures, XG Ventures, FundersClub, Palm Drive Capital, BoomStartup, FJ Labs co-founder Fabrice Grinda, Shoppermotion founder Ignacio Vilela and fashion mogul Chris Burch.

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