Zubale raises USD$25 million to consolidate in Mexico and Brazil

Over the past two years, it has experienced a threefold year-over-year growth in net revenues, following a successful Series A that raised USD$40 million in 2021.
Zubale secured a USD$25 million investment in a round led by QED Investors, backed by NFX, Kevin Efrusy and other investors.

Zubale, a set of tools and services designed to empower the profitable expansion of retailers’ digital channels, secured an investment of USD$25 million in a round led by QED Investors, backed by NFX, Kevin Efrusy, and other investors.

According to Sebastián Monroy, co-founder, and CEO of the company, these funds will be allocated to strategies focused on consolidating their presence in Mexico and Brazil and strengthening their software catalog.

The company started operations in Mexico in 2019 and expanded its reach to Costa Rica, Colombia, Chile, Peru, and Brazil. 

Currently, it has more than 115 clients and a workforce of over 100,000 freelancers on its platform, where 30 million tasks have been completed.

In the last two years, it has experienced triple-digit annual growth in its net income, following a successful Series A that raised USD$40 million in 2021.

In Mexico, Zubale serves various clients, such as Grupo Walmart, Liverpool, Chedraui, Super Aki, and Petco.

“We are delighted to continue increasing in Mexico. During 2023, we have processed millions of orders, commenced operations with over ten clients, and reached over 20 new cities.

“Mexico was our first market, and we have solidified our presence nationwide,” highlighted Adrián Hernández, General Manager of the company.

The platform operates in over 50 cities in the country, processing around half a million monthly orders.

The company currently offers three solutions in its ecosystem, with plans to add more: FlexiFleet, which provides freelancers for retailers to expand their e-commerce operations.

Consumer Connect is software that enhances the consumer shopping experience through WhatsApp. Fulfillment Optimizer is modular software that covers everything from selection to delivery to increase productivity in e-commerce operations.

“We are building a toolbox ecosystem for retailers to scale their e-commerce profitably. With this new capital, we will continue growing FlexiFleet, our freelancer marketplace for processing e-commerce orders.

“We will invest significantly in our software products that help retailers grow their digital channels profitably,” explained Hernandez.

According to Statista projections, e-commerce in Latin America is expected to reach USD$300 billion in revenue in 2027, representing a 120% growth from 2022.

In the specific case of Mexico, a 99% increase is estimated, surpassing USD$68.2 billion.

This growth is attributed to new consumers who adopted online shopping in 2020 and 2021, discovering the convenience and diversity of options offered by this segment.

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