Yummy, a Venezuela-based delivery app on a mission to create the nifty app for the country, announced Friday it raised $4 traditional markets with the necessary experience and support to overcome inevitable challenges they will face.”to expand its dark store delivery operations across Latin America. Funding backers included Y Combinator, Tinder co-founder Justin Mateen, Canary, Hustle Fund, Necessary Ventures, and the co-founders of TaskUs. The total investment includes pre-seeding in 2020. “This appears to be a contrarian bet, but Yummy has quickly become the No. 1 in Venezuela and proven that the team can scale the business in a difficult territory,” Mateen said. “Vicente and the rest of the Yummy team will expand into more
Vicente Zavarce, Yummy’s founder and CEO, launched the company in 2020 and is currently part of Y Combinator’s summer 2021 cohort. Born in Venezuela, Zavarce came to the U.S. for school and stayed to work inat Postmates, Wayfair, and Getaround before starting Yummy. Zavarce was a remote CEO, stuck in the U.S. due to , but said he had been making the most of it over the past year. Yummy’s for free, and the company charges a delivery or merchant fee. In contrast to some of his food delivery competitors, Zavarce told are “the lowest in the market,” so they do not affect the merchant’s ability to use the app.
The company is pulling together additional critical components for its super app strategy, including launching a ridesharing vertical this challenges faced by the country have led to its recent adoption of the U.S. dollar, Zavarce said. In some cases, up to 70% of transactions happen in dollars on the ground. He said this had the business against hyperinflation and ultimately created the opportunity for startups to begin operating in Venezuela.. Yummy has already connected over 1,200 merchants with hundreds of thousands of customers. And over the past year, the company completed more than 600,000 deliveries of food, groceries, alcohol, and shopping. It gross merchandise volume while growing 38% monthly revenue. Over the past eight years, the political and economic
Because of that, combined with more consumer technology innovation over the past decade, Zavarce said there is no reason why Venezuela should not have the best last-mile logistics. There, Yummy has an opportunity to connect multiple vertices into a nifty app with little to no competition. “Eventually, other end of the year., but because we have a super app, we already have an amazing frequency of usage,” he added. “We also already have exclusivity with 60% of the food delivery marketplace, which has enabled us to the market. We believe we are the right it is our responsibility.” user acquisition — the company has close to 200,000 registered users already — and to expand in Peru and Chile by August. At the same time, Zavarce will spend some of that capital to attract more Venezuela. He also expects to be in Ecuador and Bolivia by the