Overview

• The senior secured facility will fund regional expansion, refinance obligations and bolster working capital across Latin America.
• Company statements describe the transaction as the most significant debt deal since Rappi’s founding in 2015.
• CEO Simón Borrero welcomed the partnership, saying the financing reflects confidence in the business during a challenging capital-raising environment.
• Kirkoswald executives Joseph Mauro, Simon Watt and José María Ocampos cited Rappi’s reputation and leadership as reasons for the deal, while Santander’s Catalina Laurens emphasized support for the company’s regional growth.
• Rappi reports more than 100 million downloads across nine countries and roughly 400 cities, including operations in over 110 cities in Mexico.