Oct 18, 2024

Proceeds from the financing will drive Justo's expansion, primarily in Mexico, while challenging traditional e-commerce models. October 18, 2024 Justo is an online grocer in Latin America. Credit: NYS/Shutterstock. Justo, an online grocery retailer in Latin America, has secured $70m through equity and debt financing to support its expansion and innovation efforts. The $50m equity component was led by existing investor General Atlantic, with others participating. Go deeper with GlobalData HSBC Mexico arranged the $20m debt facility. Proceeds from the financing will drive Justo’s expansion, primarily in Mexico, while enhancing operational efficiencies and challenging traditional e-commerce models across Latin America. Justo founder and CEO Ricardo Weder said: “This new funding round highlights the strong belief our investors have in Justo, our team and the unique approach we bring to the table. We are excited to continue deploying our capital to redefine the grocery experience in Latin America through advanced technology and efficient operations.” See Also: How well do you really know your competitors? Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Not ready to buy yet? Download a free sample We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form By GlobalData Submit Tick here to opt out of curated industry news, reports, and event updates from Retail Insight Network. Submit and download Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. With a market potential of $600bn, the online retailer is committed to transforming the grocery industry in Latin America using technology and establishing equitable supplier relationships. Justo utilises AI and data analytics to predict demand, minimise waste at its micro-fulfilment centres and streamline daily operations. It also employs proprietary software for order management, picking and delivery. By cutting out middlemen in the supply chain, the company can offer competitive pricing and convenience for its customers while exploring innovative distribution methods. These strategies have led to increased purchase frequency and customer retention rates that exceed those seen during the Covid-19 pandemic era. The company sources a wide range of quality products from both large consumer goods companies and smaller local producers. This supports economic activity in rural and semi-rural areas by offering competitive prices. Justo operates in Mexico, Brazil and Peru. Sign up for our daily news round-up! Give your business an edge with our leading industry insights.