Logcomex, the Brazilian logistics startup, announced the successful closure of a financing round that reached BRL$165 million (approximately USD$32.5 million).
The initiative was led by Riverwood Capital and had the participation of Endeavor Catalyst and previous investors such as Igah Ventures, Alexia Ventures, and Caravela Capital.
Since its foundation in 2016, Logcomex has developed a platform that allows companies to plan, monitor, and automate their global supply chains.
The startup’s initial purpose was to improve its clients’ logistics decisions by providing more information, increasing visibility in import and export operations, and consolidating all factors into an international logistics platform.
Despite having around 1,000 clients distributed across five continents, the recent injection of capital from the financing round will allow Logcomex to carry out an ambitious growth and expansion plan in Latin America.
“There is a great inefficiency in the supply chain market in Latin America, especially due to the lack of infrastructure,” explained Helmuth Hofstatter, co-founder of Logcomex along with Carlos Souza.
The executives pointed out that Mexico and Colombia are the most promising markets for the company’s expansion, with Mexico being the most prominent. This is because its global trade is twice as extensive as Brazil’s due to its proximity to the United States.
Hofstatter noted that the choice of Riverwood as the leading investor was based on its experience in the Software as a Service (SaaS) industry and its outstanding ability to provide strategic value to Latin American companies looking to grow globally.
Hofstatter expressed gratitude for the previous partnership with Riverwood, highlighting its fundamental role in the growth and development of Logcomex.
During this dynamic period, he also expressed enthusiasm for working together for the company and the industry.
During the pandemic, Logcomex experienced a significant increase in business activity, driven by disruptions in supply chains and growing demand.
Currently, the company has 300 employees and operates in 11 countries.