Yummy, the first food delivery App in Venezuela, just raised an undisclosed Seed Round led by First Check Ventures to continue its impressive growth trajectory in Venezuela.
After launching in April 2020 the company has positioned itself as the leader in Caracas with over 10,000 monthly deliveries and a $2.4M GMV run rate. The company has additionally expanded its operations to four cities in the country, launched its first dark convenience stores, and reached exclusive agreements with the likes of Papa John’s, Pizza Hut, Burger Shack and the largest pharmacy chain in the capital.
Yummy was founded by Vicente Zavarce, former Director at Postmates, after deciding to bring the proven business model back to his home country. The business started being built before COVID-19, but the pandemic accelerated adoption by merchants looking to try out delivery for the first time, allowing the company to partner with over 145 merchants in a very short period of time.
“This round will empower us to keep expanding to new verticals beyond food, improving our tech-stack, and investing in the growth of our user base. Venezuela has lacked the spotlight of tech companies and funding options, and beyond Yummy I hope this shows there is a fantastic opportunity in a very large market that has been underserved for a long time” Said Vicente Zavarce, Founder & CEO at Yummy.
“Vicente is exactly the type of founder we at First Check Ventures want to back: experienced, passionate, and bold” said Ali Jamal, founder of First Check Ventures. “We’ve been extremely impressed with the progress Vicente and the Yummy team have been able to make during the challenging times of COVID-19, and look forward to a long and fruitful relationship with the team.”