Business

Rappi and SoftBank create IMPACTO to finance relief initiatives

IMPACTO will finance initiatives in Brazil, Colombia and Mexico. Its main initiatives are the supply of tests, medical equipment and food

Image: Screenshot
  • IMPACTO plans to deliver 20,000 food baskets to care workers in the three countries in which it has a presence;
  • It receives donations through a website and is creating a network of partners in the region.

Sebastián Mejía, president and co-founder of Colombia-based delivery startup Rappi, and Ralf Wenzel, managing partner of SoftBank, created IMPACTO, a non-profit organization to finance entrepreneurial initiatives in Latin America in the fight against COVID-19.

IMPACTO will finance initiatives in Brazil, Colombia and Mexico that are aimed to face the immediate challenges of the pandemic and have a direct impact on people’s lives, they said in a statement. 

READ ALSO: Coursera grew six times faster helped by its swift response initiatives to Covid-19

The organization’s mission is to finance the supply of tests, medical equipment and food to face a crisis that is on the rise and that has already affected more than a million people in those countries.

“The social and economic consequences in Latin America will become even more serious if we do not act quickly to address the needs of the communities that most need food, tests and medical supplies in the first line of care for the pandemic. This disease is expanding in gigantic steps, we have to act urgently to close this gap,” said Mejía. 

READ ALSO: World Bank foresees that 53 million Latin Americans will have incomes below the regional poverty line

IMPACTO started delivering 2,000 food baskets to front-line professionals and caregivers who work with vulnerable populations in Colombia. It plans to deliver 20,000 baskets in the three countries in which it has a presence. 

“We are creating a growing network made up of trusted partners and key players in the region, including governments and multilateral institutions, to find projects that have a real impact, that help us channel resources and donations, and that identify organizations that can execute them”, said Wenzel. 

On its website the organization will receive donations that will be used. They stated that they will measure and monitor the progress of invested funds.