NEWS
Jüsto secures $ 70m equity and debt financing
Jüsto , LATAM ’ s leading online supermarket with operations in Mexico , Brazil and Peru , has raised $ 70 million in equity and debt financing .
The $ 50 million equity round was led by General Atlantic with participation from others , while the debt financing of approximately $ 20 million was structured by HSBC Mexico .
Jüsto intends to use the new financing to continue executing its growth strategy , primarily in Mexico , further improve operational efficiency and redefine traditional e-commerce models in the region .
Jüsto was founded in 2019 by CEO Ricardo Weder as Mexico ’ s first fully integrated , 100 % digital online supermarket platform and has grown to become a leading online supermarket throughout LATAM America .
With a potential market exceeding USD $ 600 billion , the Company is committed to transforming the LATAM supermarket industry . to redefine the shopping experience in Latin America through advanced technology and efficient operations .
As the only first-hand supermarket ( 1P ) operating in all of LATAM , Jüsto uses AI and data analytics to support daily operations , as well as proprietary software to manage , select and deliver orders .
Zeev Thepris , Vice President , General Atlantic , said : “ Mexico and Latin America present an immense opportunity for disruptive digital innovation .
Weder said : “ This new round of funding highlights the strong confidence our investors have in Jüsto , our team and the unique approach we bring . We are excited to continue deploying our capital
“ We believe that Jüsto ’ s approach , with its emphasis on technologyenabled customer service will continue to transform the shopping experience for consumers in Mexico .”
With EBANX , Canva invests in local payments to promote digital inclusion in LATAM
Canva has partnered with EBANX to grow in LATAM by providing local payment options for customers .
The payments strategy intends to increase digital inclusion in the region and includes local cards and alternative payment methods , such as Pix , the Brazilian instant payment phenomenon that is about to offer recurring features .
Digital commerce in LATAM holds great promise but also presents challenges due to its diverse payment methods
The partnership between Canva and EBANX is already live in six LATAM countries . The number of digital commerce users across LATAM is expected to grow by 44 % over the next five years , reaching 418.9 million people by 2029
“ Latin America is one of Canva ’ s fastest-growing regions , and we ’ re committed to deepening our support for the diverse communities here by providing localised payment options . By partnering with EBANX , we ’ re making it easier for millions of people to access our platform using payment methods they trust and prefer . This tailored approach not only strengthens digital inclusion but also helps us foster a thriving creative community across the region ,” said Felipe Godoy , Growth Marketing Manager , Canva LATAM .
Melissa Johnson , VP of Merchant Success , EBANX , said : “ At EBANX , we address the payment complexities of rising markets for our merchants , allowing them to focus on the opportunities these vibrant regions offer .
“ Canva excels in fostering innovation and digital inclusion worldwide , so we are thrilled that our partnership is providing the best experience to customers in Latin America .”
8 INTELLIGENTCIO LATAM www . intelligentcio . com