Three months after announcing a $4 million seed round, Venezuelan delivery super app Yummy is back with an $18 million Series A round that will accelerate the company’s proposed expansion throughout Latin America.
Anthos Capital led the latest round, with additional participation from JAM Fund, whose founder Justin Mateen was an investor in the seed round.
Yummy was started by Vicente Zavarce in 2020 and has amassed over 200,000 registered users so far. He came to the United States for school and stayed to work in marketing roles at Postmates, Wayfair and Getaround before starting Yummy. The app, which includes both delivery and ridesharing, can be downloaded for free, and the company charges a delivery fee or merchant fee.
“We can’t wait to be live in every city in Venezuela with both Yummy Delivery and Yummy Rides, and continue our expansion across LatAM,” Zavarce said via email. “We want to become a part of everyone’s daily life and put the local economy in the hands of our users, while creating a way to earn in U.S dollars for thousands of Yummers and drivers.”
The company launched this month in Peru and Chile. Yummy plans to have 50 active dark stores in each country by the end of 2022, touting that it will be able to deliver more than 2,000 products in less than 15 minutes.
It is already processing over 340,000 monthly transactions in Venezuela, with a consistent growth of over 35% for the past four months. Yummy already has a network of over 5,000 drivers across its delivery and ridesharing operation across 12 cities in Venezuela that make this possible.
Source: New feed