99 Minutos Announces a Financing Round of $82 MD

99 minutos has secured $82 million in funding to expand its operations in Latin America.
It is projected that e-commerce in the region will grow from $85 billion to $160 billion by 2025.

E-commerce in Latam "has seen exponential growth in recent years. Photo: Revista Transportes y Turismo

03/07/2022

99 Minutos announced a new financing round of 82 million dollars led by OAK HC/FT, with the participation of investors such as Kaszek and Prosus Ventures.

According to a statement, 99 Minutos has managed to triple the size of its operations since its last financing round in May 2021. It is expected that, with this new round of capital, it will be able to execute its strategy based on new business models and launch its services in new countries in the region. Allen Miller, principal at OAK HC/FT, explained that e-commerce in Latam "has seen exponential growth in recent years, creating a very clear need for technology and effective solutions to create a 'seamless' process from order generation to delivery."

Read the full article (in Spanish)

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