Jüsto, an online grocer in Latin America with operations in Mexico, Brazil and Peru, raised $70 million in equity and debt financing. The $50 million equity round was led by existing investor General Atlantic, a global growth investor, with participation from others, while the approximately $20 million debt facility was arranged by HSBC México. Jüsto intends to leverage the new financing to continue the execution of its growth strategy, primarily in Mexico, further enhance operational efficiencies and push the boundaries of conventional e-commerce models across the region._x000D_
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“This new funding round highlights the strong belief our investors have in Jüsto, our team and the unique approach we bring to the table,” Ricardo Weder, founder and CEO of Jüsto, said. “We are excited to continue deploying our capital to redefine the grocery experience in Latin America through advanced technology and efficient operations.”_x000D_
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“Mexico and Latin America present an immense opportunity for disruptive digital innovation as the grocery sector increasingly shifts towards an omnichannel experience,” Zeev Thepris, vice president at General Atlantic, said. “We believe Jüsto’s approach, with a focus on technology-enabled customer service, high-quality products and a vertically integrated model, will continue to reshape the grocery experience for consumers in Mexico. We are pleased to further deepen our partnership with Ricardo and the Jüsto team in the company’s next stage of growth.”_x000D_
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“HSBC is committed to supporting true disruptors in the rapidly evolving digital landscape of Mexico,” Juan Carlos Pérez Rocha, head of wholesale banking at HSBC México, said. “We are excited to provide the financial backing that will enable Jüsto to continue driving innovation and meeting the needs of consumers.”
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