New York – August 17, 2021 – Cooley advised Rappi, a Colombian on-demand delivery app, on its $500 million Series F financing round, which brings its valuation to $5.25 billion. Lawyers Stephane Levy, Tamim Bazzi and Robert Warshaw led the Cooley team advising Rappi.
T. Rowe Price led the round, which included participation from Baillie Gifford, Third Point, Octahedron Capital, GIC and SoftBank.
Rappi is an all-purpose delivery application that aims to be a personal assistant for its users. With more than seven million users and a presence in Colombia, Brazil, Mexico, Argentina, Chile, Uruguay, Peru, Ecuador and Costa Rica, Rappi’s platform enables users to order and receive deliveries for goods such as groceries, meals, beverages, electronics and medical prescriptions.
Cooley has advised Rappi on several transformative corporate transactions since 2016, including its $220 million funding round in 2018, which established the company’s unicorn status; its up to $1 billion investment by SoftBank in 2019; and its $300+ million financing round in 2020.
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