Logcomex, a logistics company from Brazil, recently completed a funding event in which it raised USD $32.5M. This financial boost was led by Riverwood Capital, with contributions from Endeavor Catalyst and earlier investors like Igah Ventures, Alexia Ventures, and Caravela Capital.
Founded in 2016, Logcomex helps businesses manage their international trade processes more efficiently. The company aims to enhance logistics management for its clients by providing better data and insights, making the import and export activities more transparent, and integrating various aspects of global logistics into a single platform.
The company, which serves around 1,000 clients worldwide, plans to use the newly acquired funds to grow and broaden its reach in Latin America. Helmuth Hofstatter and Carlos Souza, who established Logcomex, believe there is significant room for improvement in Latin American supply chains, largely due to underdeveloped infrastructure.
Mexico and Colombia are seen as key markets for expansion, with Mexico identified as especially important because its international trade volume is double that of Brazil's, largely thanks to its close ties with the United States.
Hofstatter remarked on the selection of Riverwood as the lead investor, citing their deep knowledge in the Software as a Service (SaaS) sector and their track record in adding strategic value to Latin American companies with global ambitions.
He also acknowledged Riverwood's pivotal role in Logcomex's journey so far and looked forward to continuing this partnership. The company has seen business growth during the pandemic, owing to supply chain interruptions and a surge in demand.
Logcomex currently employs 300 people and has operations in 11 countries.