99 Minutos, the Mexican Last Mile Startup, Raises $40 million Dollars in Investment

The Mexican last-mile logistics startup 99 Minutos has successfully closed a Series B investment round, raising a total of $40 million from funds like Prosus Ventures and Kaszek.

The logistics startup 99 Minutos has closed a $40 million investment round for expansion in Latin America. Photo: Revista Transportes y Turismo

06/08/2021

The Mexican last-mile logistics startup, 99 Minutos, founded by entrepreneur Alexis Patjane, has announced the successful closure of a new Series B investment round, totaling an impressive $40 million.

This significant funding primarily comes from Prosus Ventures and Kaszek funds, who have decided to support the growth of this promising startup, which was established in 2014 and currently employs over 1,000 collaborators.

"We decided to initiate this fundraising process in mid-January, after facing the challenges generated by the pandemic and the disruptions that affected last-mile logistics companies. This industry experienced remarkable growth as people, unable to leave their homes, started making numerous online purchases," explained the enthusiastic entrepreneur in an interview.

Read the full article in Spanish: Link

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