Prosus Ventures has returned to back the on-demand delivery service, helping the company’s total funding reach nearly $129m.
Mexico-based last-mile delivery platform 99 Minutos secured $82m in series C funding yesterday from investors including Prosus, the internet group formed by media and e-commerce conglomerate Naspers.
Growth equity firm Oak HC/FT led the round, which included venture capital firm Kaszek Ventures, while Prosus took part through its Prosus Ventures subsidiary. The deal lifted the company’s total funding to almost $129m, according to TechCrunch.
Founded in 2014, 99 Minutos has built a last-mile delivery app that caters to users in Latin American markets including Chile, Colombia and Peru as well as its home country. It claims its platform can fulfil the order within 99 minutes, but also offers same-day, next-day and emission-free deliveries.
Prosus had already taken part in 99 Minutos’ $40m series B round in May 2021, investing alongside Kaszek. It came three years after Engie Factory, part of energy utility Engie, had paid an undisclosed sum for…
