How Liftit raised US$14.3M

LatAm ListLiftit, a platform that connects businesses with delivery-people  in Colombia, Mexico, and Brazil, faced countless rejections before landing a US$14.3M investment from the International Finance Corporation (IFC) and a group of regional funds. Deals  of this size are still quite rare in Colombia.

Angel Celis, Felipe Betancourt and Brian York founded Liftit in 2016, and by 2018 saw it grow by 256%. This growth immediately attracted attention from the IFC and the Brazilian fund Monashees.  

“Liftit – which in 2017 had raised US$2.2M – is very attractive for us. It has a unique profile in Latin America, and an ability to give fast and smooth returns on investment,” explains Steven Darling, the IFC investment officer.  

Resources from this round will finance the company’s expansion throughout Latin America. The goal for this year is to reach 1,100 clients and 22,000 drivers and operators using an aggressive marketing strategy that will position the brand and bring more visibility to Liftit’s operations.

“Our investors recommend that within three or six months we look for new sources of income. This round of capital is to ensure our growth and the next round will be a Series B,” Celis foresees.

Read more on Expansion or listen to this podcast episode.

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