02.Sep.2021 17:50 BRT UPDATED 18:10 BRT
The startup said it raised more than $100 million of capital to expand in Mexico before launching in Sao Paulo; Justo benefited from a pandemic-time boost for online deliveries of goods ranging from fresh foods to cleaning supplies.
Mexican grocery delivery
startup Justo is launching in Brazil, where it aims to get 1 million customers in the local market, as CEO Ricardo Weder told LABS.
The company raised over $100 million, and it is allocating $40 million of it to expand to
Brazil, mainly Sao Paulo. Justo wants to generate between 3,000-5,000 jobs in the first two years in Brazil.
“We continue to grow pretty fast in
Mexico, with over 30% month-over-month growth,” said Weder.
He added that the company is already overseeing another operations in LatAm, but wants to go deep into
Mexico and Brazil to become the leader in the grocery delivery market.
READ ALSO: The largest Series A round raised in Latin America: Mexico’s online grocery business Jüsto raises $65 million
Founded a year and a half ago, Justo benefited from a pandemic-time boost for online deliveries of goods ranging from fresh foods to cleaning supplies.
The company said it had exponential growth of 800% in the last year in
Mexico. It operates in Mexico City, and the cities of Queretaro, Guadalajara and Puebla.
READ ALSO: Mexican online grocery business Jüsto raises $12 million in a new round
Unlike apps such as
Cornershop and Rappi that send couriers to pick up food from brick-and-mortar stores, Justo keeps its own stock of goods, which it sends direct from its warehouses to customers’ homes.