Dealflow | March 3, 2022

99minutos raises $82 million for electric delivery for online vendors in Latin America

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, March 3 — Retail e-commerce in Latin America is projected to nearly double to $160 billion in 2025, from $85 billion last year.

Mexico City-based 99minutos, through its fleet of electric delivery vehicles, helps online vendors in Mexico, Colombia, Chile and Peru transport goods and inventory. The company, which aims to provide delivery in 99 minutes or less, plans to expand in Latin America and add more electric vehicles. 99minutos says more than one-quarter of its deliveries have a zero-carbon footprint.

99minutos has raised $129 million since it launched in 2014. Oak HC/FT led the company’s Series C round. Colombia’s Melonn last month raised $20 million to help small businesses in Latin America sell and deliver goods to customers.