Yummy, a delivery and ride-sharing app active in the Latin American market, raised $47 million.
The startup, founded in 2020, is building a so-called “super app” with features like transportation and delivery integrated into a single service.
Counterparts like Bolt and Grab rely on a style in Europe and Southeast Asia.
Yummy’s most recent financing circular was carried out through Anthos Capital with the participation of several investors, adding Wind Ventures, the investment arm of Chilean energy giant COPEC. JAM Fund, Soma Capital, Ethos Capital and YC Continuity also supported the circular.
The company is led by Vicente Zavarce, formerly of Postmates and Getaround.
He said Yummy will expand its policy to existing markets in Venezuela, Bolivia, Peru and Panama, with no immediate plans to enter new countries.
Yummy has signed deals with chains such as KFC and Burger Shack to make deliveries to those markets, while its delivery functions have expanded to products such as clothing.
According to the company, it has 2. 5 million registered users and processes 800,000 transactions a month.
It has more than 12,000 drivers who are paid according to delivery or based on distance and time rather than an hourly or shift rate as some corporations in other markets have done in recent years.
“E-commerce penetration in most of Latin America remains low and access to the fashionable currency is limited,” Zavarce said. “We see a great opportunity to catalyze the adoption of cellular commerce and a new wave of inclusive monetary products in the region. “
Also from the increase, Yummy appointed former Uber CHIEF Operating Officer Barney Harford to its board.
Yummy closed its investment cycle at a difficult time for the online food and grocery delivery market as businesses adapt to post-pandemic markets and existing economic challenges related to inflation. Last week, several corporations laid off many workers as part of this adjustment. .
“We are incredibly positive about the intersection at which Yummy operates, and as Latin America continues to revel in economic growth, we are confident that Yummy will be a familiar call to consumers seeking convenience, staff seeking additional work, and investors looking for more sources of income,” said Annie Luchsinger of Anthos Capital, lead investor.