Marketplace and software startup Zubale raises a $40M Series A

Zubale, a Mexican software and marketplace company that solves e-commerce order processing for retailers in Latin America has raised a $40M Series A round. QED Investors, GFC, Felicis Ventures, and Hans Tung (GGV Capital) led the round. Other existing investors are Wollef, Kevin Efrusy, and Maya Capital.

The startup was founded in 2018 at Harvard Business School by Endeavor entrepreneurs Allison Campbell and Sebastian Monroy. As one of the fastest-growing sectors in Latin America, e-commerce poses serious challenges for retailers. Monroy explains the following:

“Retailers are experiencing great pressure from consumers to improve the shopping experience on their digital channels by offering the same speed and quality of delivery that apps like Rappi, PedidosYa, iFood, or Cornershop offer. However, providing these service levels and delivery speed requires huge technological work and large capital investment for which retailers are not prepared. We’re changing that with Zubale, helping retailers innovate faster than ever before.”

Zubale’s product allows retailers to supply the demand for fast and effective deliveries while maintaining a direct relationship with their customers. Their integrated software is complemented by a marketplace for independent retailers. The startup is ultimately in charge of picking, packing, and shipping e-commerce orders to customers’ homes. 

The company has already raised $48M in different rounds. This new investment will help the company expand to other countries in Latin America. Zubale was born in Mexico and expanded later to Colombia, Costa Rica, and Peru. This year, the startup plans to start its operations in Brazil and Chile:

“Our goal is very clear, in a very short time we want to be present in the six most important markets in Latin America. In the last two years, we have grown steadily by 25% month by month, and we expect to multiply our sales by three times in 2022, compared to the previous year,” says Monroy.

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