RIO DE JANEIRO, BRAZIL – Delivering from food to cleaning products, startup Justo’s app was launched in Brazil with an initial investment of US$40 million, the company said Thursday (2).
The startup said it has raised over US$100 million in capital to expand in Mexico before its launch in São Paulo, where it aims to reach 1 million Brazilians and generate between 3,000-5,000 jobs in the first 2 years.
“Brazil represents a great opportunity, but also a great challenge due to the local market’s sheer size and complexity, but I have no doubt that with talent and passion we will be very successful,” said the company’s founder and CEO Ricardo Weder to Exame newspaper.
Founded a year and a half ago, Justo benefited from a surge in online deliveries of products ranging from fresh food to cleaning supplies in the pandemic.
The company said it grew by an exponential 800% over the past year in Mexico, where it operates in Mexico City and Queretaro, Guadalajara and Puebla.
Unlike apps like Cornershop and Rappi, which send couriers to pick up food in physical stores, Justo keeps its own stock of goods, which it sends straight from its warehouses to customers’ homes.
Source: Exame