Nowports becomes the first LogiTech unicorn in Spanish America with a $150M series C
Led by SoftBank Latin America Fund, this round increased the startup’s valuation to $1.1B.
Less than a year ago, when we announced our series A investment round, we didn’t imagine how close this moment would be. We are closing our series C investment wound with US $150 million. With this capital, we became the first LogiTech Spanish American unicorn.
The round was led by SoftBank Latin America Fund, a division of SoftBank Group that has supported entrepreneurs in the region since 2019, including LatAm unicorns like Bitso, Incode, and Kavak.
Investors such as Tiger Global, Foundation Capital, Monashees, Soma Capital, Broadhaven Ventures, Mouro Capital, Tencent, and Base10 Partners also joined; the same as founders and co-founders of big companies Daniel Voguel (Bitso), Ricardo Amper (Incode), Alex Bouaziz (Deel), and Roger Laughlin (Kavak).
“We are excited to invest once again in Nowports, a company that is revolutionizing its industry. In addition to the increasing focus on artificial intelligence, big data and IoT to improve the entire import and export chain, we believe the investment will help Nowports to consolidate its presence in the Brazilian market and create new services and solutions, becoming a truly reference in innovation in Latin America”
Juan Franck, managing partner of SoftBank Latin America Funds.
This milestone makes Nowports the first unicorn in Monterrey and one of the greatest valuated in Mexico, with $1.1 billion dollars.
Since its inception, Nowports has kept its mission of revolutionizing the flow of imports and exports in Latin America using technology, improving visibility, and empowering companies with valuable tools. We followed our Series B with achievements such as:
- Launching our office in Panama and two other cities (Concepcion and Medellin), totaling 10 active offices in 7 countries.
- Growing our team to reach 500 nowporters.
- Being listed as Fast Company’s 10 most innovative companies in Latin America in 2022.
“We are excited to gain the trust of large investment funds and join the short list of unicorns in Latin America. This increases our commitment to transform supply chains with technology and agile financing access for companies that import or export merchandise in the region. We will make Nowports one of the main promoters of all the emerging economies in the world, not just Latin America.”
Alfonso de los Ríos, co-founder & CEO of Nowports.
Our goals with this capital
Our team is a fundamental part of Nowports’s growth, with professionals in foreign trade, technology, finances, and more. We will expand our team in every area, with an emphasis on Tech to strengthen our platform as the virtual logistics hub for any company in LatAm.
Recognizing the grand opportunities in joining FinTech with Logitech, we will expand our financing services to companies that import or export. Months ago, we started with Inventory Financing, allowing companies to acquire more merchandise to import and pay for later.
As for new openings, we seek to establish ourselves in more cities in our operational countries, such as Brazil, Mexico, and Chile. We also continue with the plan defined since the announcement of our previous series: to open offices to facilitate operations in cities with large commercial exchanges with Latin America.
“We have been growing at an outstanding acceleration rate, and this injection of capital will allow us to continue at that pace, streamline the flow of our operations, and reach more corners of the world.”
Maximiliano Casal, co-founder and COO of Nowports.
A real unicorn does not appear by magic. We got here thanks to the companies that accepted a new solution for their foreign trade, the strategic partners that adapted their day-to-day to integrate our developments, the investors that believed in us, and the team that shapes and lives the “Nowports Way” every day.
We thank again all the people who have placed their trust in Nowports. With this achievement, we strengthen our commitment to develop better solutions to transform the Latin American ecosystem, facilitating connections throughout the world.
To learn more about Nowports, please visit our website.