A few big companies have come to dominate specific markets in Latin America — like iFood in Brazil, Rappi in Colombia, and Delivery Hero in Central America.
The region has historically been a slow adopter of delivery apps. Even during the pandemic, Latin American companies got relatively less funding than their competitors across the world.
Nevertheless, small amounts of money were able to do big things with this e-commerce and last-mile laggard. The sector grew, and is projected to keep growing by an average of over 20% annually across Latin America, compared to the global average of 11%.
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