“Can a Latin American delivery super-app turn its marketplace transaction data into the dominant SMB credit and payments rail for the region's underbanked merchants?”
Founded 2015 as a Colombian delivery super-app, Rappi expanded into financial services via RappiPay (2018) and then a Davivienda joint-venture in Colombia that became a licensed financiamiento entity issuing the RappiCard. The 2023-2026 push into merchant lending (RappiPréstamos Aliados) leverages transactional data from the marketplace to underwrite the ~35,000 commerce partners that traditional banks underserve. RappiPay is positioning as the financial backbone of the Rappi ecosystem rather than a standalone neobank.
RappiPay discloses Davivienda (sponsor JV) as its banking provider, with Davivienda as its sponsor bank, according to the Embedded Finance Index 2026.
RappiPay does not disclose a bank charter of its own; its banking services are provided through Davivienda.
RappiPay processes payments through RappiPay (self-operated).
The Embedded Finance Index 2026 maps 4 layers in RappiPay's stack: Payments / PSP (RappiPay (self-operated)); Banking / BaaS (Davivienda (sponsor JV)); Lending (RappiPréstamos Aliados and Restaurant loans (Mexico & Colombia)); Sponsor bank (Davivienda).
RappiPay was founded by Simón Borrero, Felipe Villamarin and Sebastián Mejía and is founded in 2015, headquartered in Bogotá, Colombia.
Get a read on where your own stack stands against RappiPay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.