Zubale, the startup providing solutions for digital retail, has secured a USD $25 million investment led by QED Investors, with the participation of NFX, Kevin Efrusy, and others. This funding will help Zubale strengthen its operations in Mexico and Brazil.
Sebastian Monroy, co-founder and CEO, has shared that the funds will be used to enhance their software offerings. Established in Mexico in 2019, Zubale has expanded to Costa Rica, Colombia, Chile, Peru, and Brazil. The company serves over 115 clients and has a network of 100,000 freelancers, having completed 30 million tasks. Zubale's revenue has seen substantial growth, especially after its Series A funding round in 2021, which raised USD $40M.
In Mexico, Zubale works with clients like Grupo Walmart, Liverpool, Chedraui, Super Aki, and Petco. Adrian Hernandez, General Manager, notes the company's progress in Mexico, with significant order processing, new clients, and expansion to new cities. Operating in over 50 cities in Mexico, Zubale processes about half a million orders monthly.
Zubale offers three solutions: FlexiFleet, Consumer Connect, and Fulfillment Optimizer, and plans to expand these offerings. Hernandez highlights the company's focus on enhancing e-commerce operations for retailers.
With the e-commerce market in Latin America projected to reach USD $300B by 2027, and Mexico's market expected to grow by 99%, surpassing USD $68.2B, Zubale is well-positioned in this growing sector. This expansion is driven by the increasing number of consumers who began shopping online in 2020 and 2021, attracted by the convenience and variety of e-commerce.
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