- Moova currently operates in Argentina, Chile, Mexico, Peru and Uruguay;
- The new funding will be use to expand its operations and market share in Latin America, including Mexico;
- The funding amount were not disclosed.
Moova, a digital logistics platform and delivery service in urban markets headquartered in Argentina, announced on Wednesday a round led by Brazilian Movile, one of Latin America’s leading investors and growth accelerators for technology companies. The funding amount was not disclosed.
Boosted by the pandemic of COVID-19, e-commerce has grown worldwide and in Latin America achieved the highest growth, of 60% in online sales last year. Moova recorded a 1.300% increase in the number of deliveries compared to 2019.
So, this is a big opportunity for Moova. The new funding will be use to expand its operations and market share in Latin America, including Mexico. “One of our biggest bets for 2021 is Mexico. This year we will be setting a big part of our efforts in Mexico to consolidate our presence in that country. We know it is a significant and fast-growing market with huge potential”, said Tony Migliore, Moova founder and CEO.
The investment will enable the growth of the Moova AI and data analytics team and further update its logistics platform with new features and improved functionality. “The pandemic created a wide-scale change in consumer behavior, and Moova has played a fundamental role to keep people safely in their homes while receiving necessary goods from online sources,” he added.
Focused on last-mile delivery services logistics, Moova currently operates in Argentina, Chile, Mexico, Peru and Uruguay, providing a proprietary technology platform and an app for route and fleet optimization. Tracking idle capacity in the fleets of established couriers or logistics companies, Moova creates a low-cost package delivery solutions, enabling same-day delivery service.
This approach, according to Moova, is a more sustainable way to ship goods, since improves the efficiency of last-mile deliveries, in addition to reducing traffic congestion on the roads. Also, Moova have a network of 1.500 delivery partners (the “Moovers”), who execute last-mile deliveries from manufacturing facilities to retailers or directly to consumers. In three years, approximately 1 million deliveries were made.
Major markets of Lartin America, each one with its needs
Migliore said that the Moova’s operations in different countries enabled the company to identify the peculiarities of each country and the needs of its consumers. He told LABS that while in Argentina and Uruguay the speed of delivery and cost are crucial, in Chile the companies value the platform’s technology and in Mexico and Perú, the most relevant attribute is the quality of the service and of the logistics providers.
“Latin America is composed of many different cultures, and we understand each country as a unique market, with different customers and behaviors”, Migliore analyzed.
Patrick Hruby, Movile’s CEO, said that the investment on Moova is strategic to increase the group’s logistics-and-delivery presence in major markets of Latin America. “Our investment in Moova is the second focused on logistics companies outside of Brazil, and this is our strategy moving forward: to broaden Movile’s investments and operations outside of Brazil to other Latin American countries”, said Hruby.
He adds that, given the impact of the pandemic on the digital consumption in Latin America, Movile sees a huge opportunity in the market for more efficient, low cost and environmentally friendly logistics operations.