What is 99Minutos?
Founded in 2013 and headquartered in Mexico City, 99Minutos operates as a specialized logistics provider tailored to the unique requirements of e-commerce enterprises. The company addresses the complexities of the supply chain by offering efficient, technology-driven delivery solutions that prioritize speed and reliability. By integrating advanced routing algorithms and a robust operational framework, 99Minutos has become an essential partner for retailers looking to optimize their distribution networks in Latin America.
The firm's market position is bolstered by its ability to navigate the logistical challenges inherent in high-growth emerging markets. Through its focus on last-mile delivery, 99Minutos provides a critical bridge between digital storefronts and the end consumer, effectively reducing friction in the purchasing journey and setting a new standard for service delivery in the region.
How much funding has 99Minutos raised?
99Minutos has raised a total of $122M across 2 funding rounds:
Series B
$40M
Series C
$82M
Series B (2021): $40M with participation from Prosus and Kaszek Ventures
Series C (2022): $82M led by Kaszek Ventures, Prosus, and Oak HC/FT
Key Investors in 99Minutos
Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world, focusing on high-growth markets and sectors including logistics and fintech.
Kaszek Ventures
Kaszek Ventures is a premier venture capital firm dedicated to partnering with exceptional technology entrepreneurs across Latin America, providing both capital and operational expertise.
Oak HC/FT
Oak HC/FT is a venture growth-equity fund that invests in healthcare and financial services technology, offering strategic counsel and extensive industry networks to its portfolio companies.
What's next for 99Minutos?
With the support of its latest funding, 99Minutos is well-positioned to accelerate its strategic roadmap, focusing on geographic expansion and the integration of next-generation logistics software. The company is expected to leverage this capital to deepen its penetration in existing markets while exploring new territories where e-commerce adoption is rapidly rising. Furthermore, the involvement of seasoned investors suggests a focus on operational excellence and potential long-term value creation, likely involving the optimization of its fleet and the enhancement of its automated fulfillment capabilities.
As the company matures, the emphasis will likely shift toward achieving greater economies of scale and diversifying its service offerings to include more comprehensive supply chain management tools. This strategic evolution will be vital in maintaining its competitive edge against both local incumbents and global logistics players entering the Latin American market.
