September 29

RappiPay Secures USD $112 Million to Boost Financial Inclusion

RappiPay, Colombian Banco Davivienda and Rappi’s fintech has secured USD 112 million financing in a credit to boost financial inclusion in the LATAM country.

The financial credit was granted by Bancolombia, Banco de Bogota, Itau, and the payments’ fintech owner, Davivienda.

Driving financial inclusion

As per the new capital infusion, RappiPay will now allow its users to create 100% digital accounts to perform a series of online banking and payment services, including sending and collecting money, paying utility bills, transferring to other banks, and more. In addition, the RappiPay card enables frictionless and fast payments for in-store shopping.

Photo courtesy of Juanedc.

Source: The Paypers (link opens in a new window)

e-commerce, financial inclusion, fintech