Rappi secures US$100 million in financing led by Kirkoswald Private Credit
The transaction strengthens the maturity of the tech company and marks the beginning of a strategic alliance for its expansion in Latin America.
A bet in a challenging environment
Rappi Inc., the most relevant delivery platform in Latin America, closed a senior secured loan of US$100 million, provided by Kirkoswald Private Credit and Banco Santander. This represents the most significant debt financing the company has obtained since its founding in 2015.
“We are excited to partner with Kirkoswald and Santander at this stage of growth and maturity.
Securing this type of support in today’s challenging capital-raising environment reflects the strength of our team and the confidence of our partners.”
— Simón Borrero, co-founder and CEO of Rappi
Rappi’s appeal for investors
Joseph Mauro, President of Kirkoswald, stated:
“We are proud to announce this new transaction. We will continue building on this momentum as we move toward our goal of becoming a global leader in private credit.”
Meanwhile, Simon Watt and José María Ocampo, from the Private Credit team, added:
“We are excited to finance Rappi, one of the most reliable and successful tech companies in the region. Its reputation and performance in Latin America made this a highly attractive opportunity.”
Santander and the regional vision
Catalina Laurens, Head of Corporate and Investment Banking in Colombia, emphasized:
“What Rappi has achieved in just 10 years is a testament to the tenacity of its founders and the potential of a region that lies at the heart of Santander’s business. We look forward to supporting them for many more years.”
More than capital: a strategic alliance
This financing not only provides liquidity, but also seals a long-term alliance with two institutions that share Rappi’s vision: achieving sustainable and profitable growth in Latin America. In this new phase, the partnership reinforces the company’s ability to scale strategically and consolidates confidence in its regional impact.