<article>SoftBank Group Corp. is close to making a $1 billion investment in Latin American delivery app Rappi, according to people familiar with the matter.</article>

SoftBank Group Corp. is close to making a $1 billion investment in Latin American delivery app Rappi, according to people familiar with the matter.
The investment is likely to be led by the Japanese company’s newly formed Innovation Fund, which was launched by Softbank Chief Operating Officer Marcelo Claure to focus on technology investments in Latin America, the people said, who asked not to be identified as the details aren’t public.
It’s expected to invest alongside the conglomerate’s Vision Fund, the person said.
A deal could be announced as soon as this week, the people said. It could be one of the largest investments ever in a Latin American company.
Representatives for SoftBank and Rappi declined to comment.
Colombian startup Rappi was valued at more than $1 billion in its last fundraising round in September, in which it raised $220 million led by DST Global. It wasn’t immediately clear how much the company would be valued at after the SoftBank investment.
Bloomberg

The investment is likely to be led by SoftBank's newly formed Innovation Fund, which targets tech investments in Latin America.

SoftBank may invest $1b in Colombian delivery app Rappi

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

SoftBank may invest $1b in Colombian delivery app Rappi

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief