Rappi, an on-demand delivery startup operating in Latin America, has raised more than $200 million in new funding at a valuation north of $1 billion, Axios has learned from multiple sources. DST Global was the lead investor, while existing shareholders include Sequoia Capital and Andreessen Horowitz.

Why it matters: Startup "unicorns" have become almost common in the U.S., but there are still only a small handful south of the border.