Delivery Hero Sells Most of Its Rappi Shares


Delivery Hero announced that they have sold US$150 million of their stake in Rappi. This represents most of the capital they had invested in the Colombian company. 

However, the German food delivery company will keep a 7.9% stake, which represents about US$40 million, a seat on the board of directors and plans to monetize the remaining shares in the long term. 

Delivery Hero’s Time at Rappi

The German company led a Series B investment round for Rappi in 2017. This was when the Colombian startup was valued at US$400 million. 

Delivery Hero’s bet paid off: five years later they have almost recovered their investment in Rappi, whose valuation is now US$5.2 billion.

Now, the sale of Delivery Hero’s stake in Rappi comes against a backdrop of expansion for the German company. This is because they require capital to complete the acquisition of Glovo, a delivery company based in Catalonia.

Just a week ago, Delivery Hero announced their acquisition of 39.4% of Glovo. This is in addition to the 44% stake they already held in the company, bringing it to just over 80% in the firm. 

Rappi continues to expand its business verticals. Although at the beginning it was only a delivery service, they soon debuted their financial services. By 2021 they ventured into travel with Rappi Travel, which sells airline tickets and hotel reservations.

This new arm had a monthly growth of 35% and around 150,000 passengers. By 2022 they want to reach US$120 million in sales and have operations in Mexico, Peru, Argentina, Brazil, Chile, and Colombia, reported Forbes Colombia

So far Delivery Hero is a public company and has a presence in Europe, Asia, Latin America, the Middle East, and North Africa. Rappi is present in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, and Uruguay.

You may also be interested:

Previous Article

Tribal Includes Stablecoins in Its New Debt Round

Next Article

Parrot Raises US$9.5 Million; Seeks To Digitize Restaurants in Mexico

Scaling a startup or scouting for your next deal?
We help you get there faster.