Softbank to invest $1 billion in Rappi

Softbank

Japanese technology investment company Softbank is expected to announce on Tuesday a $1 billion investment in Colombian delivery app Rappi.

Reuters News cited a Brazilian financial blog that the Rappi investment would be the first one by the newly created Innovation Fund, which is focused on Latin America.

Another Softbank global investment vehicle, Vision Fund, would also participate. Rappi was valued at $1 billion in its latest funding round in September.

Citing sources with knowledge of the matter, Brazil Journal said the new investment values Rappi at $2.5 billion.

Softbank and Rappi did not immediately comment on the matter.

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