LatamList – Jüsto, Latin America’s leading e-grocery store, raised a further $5M in early-stage funding from Bimbo Ventures and Sweet Capital. The startup previously raised a $12M pre-Series A from various global investors.
Bimbo Ventures is the investment arm of one of the world’s largest bakery companies, Bimbo, and Sweet Capital is the investment fund from the founders of King.com.
Over the summer, the startup expanded beyond Mexico City into Querétaro. The demand for online grocery services is evident, with sales in the first week of Jüsto’s launch equaling what the company had achieved in 200 days in Mexico City.
The startup will use the additional funds to continue growing its business across Latin America. According to co-founder Manolo Fernandez, the next countries for launch will be Colombia, Peru, and potentially Ecuador in the next year.
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