Bancolombia, Davivienda, Itaú and Banco de Bogotá grant COP 500 billion loan to RappiPay

Colombia
Bancolombia, Davivienda, Itaú and Banco de Bogotá grant COP 500 billion loan to RappiPay
September 28, 2022
Cuatrecasas has advised Bancolombia, Davivienda, Itaú Corpbanca Colombia and Banco de Bogotá on granting a COP 500 billion loan to RappiPay S.A.S. The company will use it to promote financial inclusion in the country by consolidating RappiCard and also to expand its range of products and services.

RappiPay is a fintech, authorized to operate as a financial institution, which aims to provide its users with easy, safe and transparent solutions.

This is one of the largest transactions in Colombia’s fintech industry, entirely financed by domestic banks.
The team advising on the transaction was made up of Cuatrecasas lawyers Manuel Quinche, Juan Carlos Puentes, Andrés Herrera, Angie Gómez, Paula Cortés and Lorenzo Lizarralde.

September 28, 2022