Instaleap secured $5M in a Series A round led by Grupo Pegasus, Redwood Ventures, and Eduardo Castro-Wright, former CEO of Walmart.
The startup will use these funds to continue developing its technology, explore new business verticals, and expand its operation.
“We have always sought to be rational when growing and focused on maintaining profitability. We are proud to demonstrate that, in these uncertain times, a Latin American startup can raise a funding round to continue growing,” said the CEO of Instaleap, Antonio Nunes
Instaleap offers a platform that manages last-mile logistics for companies that sell online, with a focus on supermarkets and pharmacies. Its platform integrates with the businesses’ operations, allowing them to generate insights from the obtained data and optimize processes.
The company was founded in 2019 by former Mercadoni, Rappi, and Linio employees and operates in México, Perú, Chile, Brazil, Uruguay, Portugal, Spain, and Italy. Each month, Instaleap makes over one million deliveries to recurring customers like Walmart, 7-Eleven, Walgreens, Grupo Éxito, and Falabella.