Rappi Secures $100 Million Loan From Santander, Private Credit
Rappi, a prominent Latin American startup, has secured a $100 million loan from Banco Santander and Kirkoswald Capital Partners. This debt financing is the largest for the company since its inception a decade ago. Rappi, which operates a delivery platform, is one of the most valuable startups in the region. The loan will likely be used to support Rappi's ongoing operations and expansion plans across Latin America. The deal highlights the growing interest of traditional financial institutions and private credit providers in supporting the growth of technology-driven startups in emerging markets, like those found in Latin America. The successful fundraising also demonstrates Rappi's ability to attract significant capital, despite the economic challenges posed by the COVID-19 pandemic in the region.
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