[Contxto] – The Colombian delivery platform, Liftit, raised a US$14.3 million Series A round led by monashees and the IFC. Jaguar Ventures, Mercado Libre fund, NXTP Labs and some other investors also joined the investment through the virtual venture fund, ArkAngeles.
Liftit is a B2B last-mile delivery company. It matches individual truck drivers with businesses in need of delivery services, through a digital marketplace.
The company was founded in 2016 by Ángel Celis, Felipe Bentancourt, and US investor, Brian York. And in 2018, it managed to grow 256%. Liftit now serves major clients like Grupo Bimbo, Nestlé, Cruz Verde, Walmart and Homecenter.
Previously, Liftit had raised US$2.2 million in seed funding from more than 80 investors.
With over 137 clients and 8,000 drivers, the company is also operating in Mexico, Chile and Ecuador.
Logistics are a complicated part of every business. Many companies even lose customers due to poor delivery processes.
Not only it helps business owners, but it also provides great job alternatives for independent truck drivers. Once the cargo is delivered and the service is completed, drivers can charge immediately instead of waiting 30 to 60 days to collect their payment, as it’s usually done.
Through its network of allies, the startup helps drivers get better deals and prices in vehicle supplies, such as tires and gasoline.
Company executives aim to expand throughout Latin America. This investment round will be used to reach more than 1,000 corporate clients and target 22,000 truck operators. To do so, they plan on carrying out an aggressive marketing strategy that will position the brand and give it visibility.
Soon, they will raise US$100 million in Series B, admits the company founder.