Amazon Invests in Latin American Last-Mile Delivery Provider Rappi

Investment Overview - Amazon has invested $25 million in a convertible note for Rappi, a last-mile delivery service in Latin America [1] - The investment allows Amazon to acquire up to 12% of Rappi through warrants if specific milestones are achieved [2] Strategic Partnerships - Rappi is currently a customer of Amazon Web Services and has a partnership that offers Amazon Prime members in Mexico a year of free shipping through Rappi, initiated in May 2024 [3] - Amazon Mexico, launched in 2015, accounted for 1.5% of Mexico's retail sales as of April 2024, with over 18,000 independent businesses selling on its platform [4] - Amazon has also partnered with Mexican grocery delivery startup Jüsto, integrating its services into Amazon's Mexican eCommerce platform [5] Payment Innovations - Rappi has partnered with AstroPay to create a wallet-on-file integration, enabling users in Argentina, Brazil, and Peru to make payments across currencies without needing cards [6] - This partnership allows for "frictionless, instant checkout" using various currencies with real-time foreign exchange conversion [7]