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David and Goliath, how this YC startup is taking on Rappi
Contxto – “Don’t do it,” acquaintances told Justo founders, Rodrigo Segal and Nicolás López, when they said they wanted to launch a startup for food delivery in Chile. Some even laughed at the entrepreneurs’ idea. Little did these haters advisors imagine that Justo would go on to grow 500 percent within a single year, prepare […]
Hugo pilots drone deliveries and launches delivery-only grocery store
Contxto – Salvadoran Hugo has been very busy throughout 2020. Last we wrote about the delivery startup, it closed its Series A and launched Hugo Ventures to invest in tech startups—particularly for those from the Central American region. More recently, it’s been pilot testing drones to complement its logistics operations and it launched hugoMarket, an […]
Jüsto closes US$12 million to grow in Mexico and launch into Colombia
Contxto – Mexican Justo is getting just what it needed to continue expanding: fresh funds. Today (1) the dark store grocery delivery startup announced its bridge round for US$12 million. That means investors from its previous seed investment (like Mountain Nazca, FEMSA Ventures, Foundation Capital, among others) contributed. Related article: Jüsto raises one of the […]
Coronavirus: Tinder for startup power couples. But will they last?
Misery acquaints a man with strange bedfellows William Shakespeare Contxto – There’s no denying that coronavirus (Covid-19) is making for unusual partnerships among startups in Latin America. Many of which under “normal circumstances” may not have taken place at all. The question is, will these matchups live on beyond the pandemic? Or are they just […]
Justo is growing restaurants’ online presence in Chile. Next stop: Mexico
Contxto – An average 20 to 30 percent growth rate for a startup is pretty good. What’s even better? A 50 percent increase in a single month. But what about… 400 percent? Well, this big number is what Chilean Justo says it expects to grow in April. While it’s not quite clear whether it’s in […]
Mountain Nazca has left the building, sells stake in Kavak to SoftBank
Contxto – Mexico-based venture capital (VC) firm, Mountain Nazca, announced its exit from used car marketplace, Kavak. Yesterday (28), the VC stated in a press release that its stake in the startup was bought by SoftBank. Moreover, sources report that General Atlantic also bought some of the Mexican VC’s shares. Back in 2016, Mountain Nazca […]
Fintech Credijusto raises US$100 million loan with Credit Suisse Group
Contxto – Banks have been long-known to be slow and hesitant to tender loans to small and medium-sized enterprises (SMEs). Then, there was general talk of a recession since the end of 2019 which seems to have finally arrived. Add a global pandemic on top of all of that and you’ve created the perfect storm […]
Latin American startups versus Covid-19
Contxto – It’s official: as of last week we implemented home office at Contxto. Fortunately, we’ve worked from home every Thursday since we launched last year, so we already know how to operate seamlessly without having to be physically near each other. Not everyone will have the same luck though. For this reason, many Latin […]
Top 10 Venture Capital funds in Mexico
Contxto – There is another, less explored, facet of the startup equation. Indeed, no idea gets far without the money to do the walking. This is where venture capitalists (VCs) come in. And as one would expect, Venture Capital in Mexico and the rest of Latin America is no exception. Oft the mighty presences behind […]
Mercado Credito receives biggest-ever loan to fintech in Mexico from Goldman Sachs—US$125 million
Contxto – My-oh-me, fresh out the oven is a hot loan worth US$125 million from the Goldman Sachs to fintech Mercado Credito in Mexico, a unit of MercadoLibre Inc. This dough will be used to triple its US$100 million working-capital portfolio to small and medium-sized enterprises (SMEs) in Mexico within approximately one year, according to […]