Returning investor SoftBank was among the participants in a series F round that hiked the on-demand delivery service's valuation to $5.25bn.

Colombia-based on-demand delivery service Rappi has secured over $500m in series F funding from investors including telecommunications and internet conglomerate SoftBank, TechCrunch reported yesterday citing a company statement.

Investment management firm T Rowe Price led the round, which also featured Baillie Gifford, Third Point, Octahedron Capital and GIC. The cash was raised at a $5.25bn valuation, according to TechCrunch.

Rappi operates an app-based delivery service stretching across some 250 cities in nine Latin American countries. Its key product areas include…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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