Jüsto, a Mexican online supermarket, raised a $40M funding round to expand operations into Brazil. The platform will start its Latin American expansion in São Paulo.
Jüsto is working to better serve local produce suppliers and farmers in Latin America with its localized supply chains, distribution avenues, and fair prices. The platform seeks to make grocery production more accessible and agile for all – customers and suppliers alike.
“We feel incredibly proud to be able to take our platform to other countries and compete with some of the world’s largest grocery platforms. Brazil represents a huge opportunity for Jüsto, as well as a challenge due to the size and complexity of the market, but I have no doubt that with the talent and passion of our team we’ll be successful,” said Ricardo Weder, founder and CEO.
Since its launch in 2019, the Mexican startup has raised over $100M in funding. Last year alone, the platform saw a growth of 800% and continues to reach more and more Mexican families.
The platform aims to reach around one million Brazilians and generate between 3,000 and 5,000 jobs within the first two years in the country. Jüsto is seeking to be the favorite online supermarket in Latin America by 2030.