Rappi, a Colombia-based on-demand services provider backed by online food ordering company Delivery Hero has raised more than $200m in a funding round led by DST Global, Axios reported on Friday.
Andreessen Horowitz and Sequoia Capital have also participated in the round, which valued Rappi at more than $1bn.
Founded in 2016, Rappi operates an on-demand delivery service that originally focused on beverages but has since expanded into groceries, meals, medication and consumer technology products, such as earphones.
The company also offers a cashback functionality, whereby users can pay by credit card and receive cash from the courier. Rappi has not specified what it intends to do with the funding, though it will reportedly help the company better compete with its rival Uber Eats.
Rappi received $167m in a two-tranche funding round in April this year, according to a regulatory filing, though the document indicated the company was targeting $185m. Delivery Hero injected $105m in February, while Andreessen Horowitz and Sequoia also took part.
Andreessen Horowitz, Sequoia and DST backed a $9m round in 2016, which followed an undisclosed sum provided earlier by Redpoint EVentures.