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- 99 Minutos
99 Minutos Valuation, Funding & Investors
99 Minutos is valued at $1B as of March 2022.
Last 99 Minutos valuation
$1B
Series C · Mar 2022
Last 99 Minutos funding round
$82M
Series C · Mar 2022
Cumulative funding 99 Minutos raised
$129M
across 4 funding rounds
Key investors in 99 Minutos
Bossa Invest
Unpopular Ventures
Kaszek
Prosus Ventures
Christer Andersson
Y Combinator
99 Minutos Overview
About 99 Minutos
99 Minutos is a last-mile logistics provider enabling same-day e-commerce deliveries in Latin America. Operating in Mexico, Chile, Colombia, and Peru since 2014, Mexico City-headquartered 99 Minutos partners with enterprise retailers to fulfill orders at reduced costs through optimized routing and local fleets.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$1B (Mar 2022)
99 Minutos Valuation
99 Minutos is currently valued at $1B, based on its Series C in March 2022.
The $82M round was led by Oak HC/FT, with participation from Kaszek and Prosus Ventures.
99 Minutos' valuation has grown 22x from $45M at its Series A in March 2020 to $1B in March 2022, across 2 priced rounds.
99 Minutos valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2022 | Series C | $1B |
| Mar 2020 | Series A | $45M |
99 Minutos Funding History
99 Minutos has raised a total of $129M across 4 funding rounds.
99 Minutos' first fundraising round was a $2M seed round in July 2018. The most recent completed round was a $82M Series C in March 2022.
99 Minutos funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Series C | Oak HC/FT (lead); Kaszek; Prosus Ventures | $82M | $1B | 99minutos is a Mexico City-based logistics platform providing affordable, fast, and reliable last-mile delivery services for e-commerce vendors across Latin America, including markets like Chile, Colombia, and Peru. The company offers deliveries within 99 minutes, same-day, next-day, and emission-free options, handling over 15 million packages annually for major e-commerce firms and smaller brands. Founded in 2014 by CEO Alexis Patjane, it originated from his prior food truck business and has expanded with a focus on technology, efficiency, and sustainability. On March 2, 2022, 99minutos raised $82 million in a Series C round led by Oak HC/FT, with participation from existing investors Kaszek and Prosus Ventures. This brought total funding to approximately $128.7-$129 million, following a $40 million Series B in May 2021 also backed by Prosus and Kaszek. CEO Patjane noted the company had grown threefold since the Series B and was not initially seeking capital but attracted strong investor interest due to exponential growth and new customer opportunities. The funds will support expansion into Latin America, scaling new business models, technology and infrastructure investments, and low-carbon sustainability initiatives. Patjane indicated to TechCrunch and Global Venturing that the company's valuation was nearing $1 billion, positioning it close to unicorn status, with ambitions for a larger announcement in the next round. Early investors include Y Combinator, 500 Startups, Pioneer Fund, Streamlined Ventures, and Engie Factory, which acquired a 34.4% stake in 2019. Oak HC/FT's involvement was highlighted for its global presence and founder support resources. |
| Jun 2021 | Series B | Kaszek (lead); Prosus Ventures (lead); XRM Media; Endeavor Catalyst; Unpopular Ventures; Christer Andersson; Bossa Invest | $40M | - | 99 Minutos is a Mexico City-based last-mile delivery platform founded in 2014 by Alexis Patjane that offers on-demand logistics services for e-commerce vendors across Latin America, operating in Mexico, Chile, Colombia, and Peru. The company claims its platform can fulfill orders within 99 minutes while also offering same-day, next-day, and emission-free delivery options. In May 2021, 99 Minutos raised $40 million in Series B funding co-led by Prosus Ventures and Kaszek Ventures, bringing total funding at that time to approximately $49 million. The round came three years after Engie Factory acquired a 34.4% stake in the company. By March 2022, CEO Alexis Patjane disclosed that the company's valuation was approaching $1 billion unicorn status following the $82 million Series C round led by Oak HC/FT. Since its May 2021 Series B, the company reported threefold growth in operations and business by the time of its March 2022 Series C announcement. |
| Mar 2020 | Series A | Streamlined (lead); J20 Ventures; Acacia Venture Capital Partners; Y Combinator; Liquid 2 Ventures; Incisive Ventures; Wes Schwalje; Soma Capital; Unpopular Ventures; Christer Andersson; Bossa Invest; Pioneer Fund | $5M | $45M | 99 Minutos is a Mexico-based last-mile delivery platform operating in Latin American markets including Mexico, Chile, Colombia, and Peru, promising deliveries within 99 minutes alongside same-day, next-day, and emission-free options. The company, founded in 2014, serves e-commerce vendors with logistics infrastructure. Early investors include Y Combinator, 500 Startups, Pioneer Fund, and Streamlined Ventures. |
| Jul 2018 | Seed | Engie Factory | $2M | - | - |
Who has invested in 99 Minutos?
18 investors have backed 99 Minutos across its funding rounds, including Bossa Invest, Unpopular Ventures, Kaszek, Prosus Ventures, Christer Andersson and Y Combinator.
Lead investors include Oak HC/FT, Kaszek, Prosus Ventures and Streamlined.
99 Minutos Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jun 2021 | ||
| 2 | Participant | Mar 2020 | ||
| 2 | Lead | Jun 2021 | ||
| 2 | Participant | Mar 2020 | ||
| 2 | Participant | Mar 2020 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Lead | Mar 2020 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Mar 2020 | ||
This data is available for Pro users. Sign up to see all 18 99 Minutos investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by 99 Minutos
99 Minutos has acquired 1 company to date.
Last acquisition by 99 Minutos was on May 7th 2019. 99 Minutos acquired Muvsmart for undisclosed valuation.
Latest Acquisitions by 99 Minutos
| Description | Muvsmart is a last-mile delivery provider using electric cars and cargo bikes in European cities. Machine learning optimizes routes for e-commerce partners, cutting times by 20 percent. Founded in 2016 in Barcelona, Spain, it serves marketplaces with zero-emission fleets across Spain and Portugal. |
| HQ Country | |
| HQ City | Santiago |
| Deal Date | 7 May 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all 99 Minutos acquisitions and their M&A valuation multiples. Start Free Trial | |
99 Minutos Competitors
99 Minutos competitors include listed companies like Shadowfax and Transfar Zhilian Co, and private ones like Flexe, Neovia Logistics Services, Nimble Robotics and ShipBob.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $438M | $24M | $1.5B | 2.8x | ||
| Publicly listed | $3.7B | $258M | $1.9B | 1.3x |
99 Minutos Public Comps
99 Minutos is still privately-owned, but its public comps include Hangzhou SF Intra-City, Reysaş Lojistik, CTT Correios de Portugal, Logwin, NTG Nordic Transport, Heartland Express, Marten Transport, Ferrari Group, Hidrovias do Brasil and Prosegur Cash.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.4B | $54M | 0.2x | 0.2x | 11.8x | 8.4x | |||
| $257M | $142M | 4.8x | - | 8.6x | - | |||
| $1.4B | $202M | - | - | - | - | |||
| $1.6B | $131M | 0.4x | 0.4x | 4.7x | 4.7x | |||
| $1.8B | $135M | 0.7x | 0.7x | 9.6x | 8.2x | |||
| $806M | $102M | 1.2x | 1.3x | 9.9x | 6.8x | |||
| $884M | $130M | 1.1x | 1.1x | 7.7x | 7.6x | |||
| $414M | $102M | 2.0x | 1.9x | 8.0x | 7.4x | |||
This data is available for Pro users. Sign up to see all 99 Minutos competitors and their valuation data. Start Free Trial | ||||||||
Common questions about 99 Minutos
| When was 99 Minutos founded? | 99 Minutos was founded in 2013. |
| Where is 99 Minutos headquartered? | 99 Minutos is headquartered in Mexico. |
| Is 99 Minutos publicly listed? | No, 99 Minutos is a private, VC-backed company. |
| What is 99 Minutos' valuation? | 99 Minutos was last valued at $1B in its Series C in March 2022. |
| How much funding has 99 Minutos raised? | 99 Minutos has raised $129M across 4 funding rounds. |
| What was 99 Minutos' last funding round? | 99 Minutos' last funding round was a $82M Series C in March 2022, led by Oak HC/FT. |
| Who are 99 Minutos' investors? | 99 Minutos' investors include Kaszek, Unpopular Ventures, Prosus Ventures, Christer Andersson, Bossa Invest, J20 Ventures, Acacia Venture Capital Partners, Y Combinator, Streamlined, Liquid 2 Ventures and 8 others. |
| Which companies are comparable to 99 Minutos? | Companies comparable to 99 Minutos include Flexe, Neovia Logistics Services, Nimble Robotics, ShipBob, Shadowfax and Transfar Zhilian Co. |
| How many companies has 99 Minutos acquired? | 99 Minutos has acquired 1 company, including Muvsmart. |
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