SoftBank-Backed Delivery App Rappi to Offer Loans to Restaurants

Rappi Inc., a delivery app backed by SoftBank that has grown into one of Latin America’s most-valuable startups, will begin lending to restaurants in Mexico and Colombia.

Rappi’s VP Senior Spanish Speaking Latam Alejandro Solis

Source: Rappi

The Bogota-based company plans to offer loans to restaurants that have been selling via the app for at least three months, said Alejandro Solis, senior vice president for Rappi’s operations in Spanish-speaking Latin America.

“Our goal isn’t to get the margin, but to allow restaurants to expand, change their menu, boost their teams,” he said from the company’s offices in Mexico City. “We win through commissions on the sales. So we ...