Jüsto Secures US$70 Million to Strengthen Mexican Operations

Mexican online grocery startup Jüsto has secured US$70 million (MX$1.4 billion) in funding as part of its Series C round, led by General Atlantic. The company, celebrating its fifth anniversary in 2024, plans to use the funds to accelerate growth and strengthen its operations within Mexico.

Of the total amount raised, US$50 million came from investors, while US$20 million is a loan provided by HSBC, according to Ricardo Weder, CEO and co-founder, Jüsto. With this financing step, Jüsto has become the first technology startup in Mexico to receive venture funding from HSBC.

The funding round comes at a time when venture capital opportunities have been scarce for startups in the region, as previously reported by MBN.  “What excites us the most is that this investment round puts Mexico's name on high because it positions us as one of the most disruptive and reliable Mexican startups in Latin America,” reads the company’s announcement. 

“This investment will be used to continue advancing our technology and enhancing the quality of our services, allowing us to maintain our leadership in the e-grocery market in Mexico,” said Weder.

Jüsto plans to use the capital to further develop its platform, creating a simple and personalized experience for customers. The company’s long-term goal is to become the go-to grocery provider for Latin American consumers, encouraging more people to shop from home rather than visit traditional supermarkets.