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

MexicoMexico

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

99 Minutos valuation by funding round
DateStageValuation
Mar 2022Series C$1B
Mar 2020Series 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

99 Minutos funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Series COak HC/FT (lead); Kaszek; Prosus Ventures$82M$1B99minutos 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 2021Series BKaszek (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 2020Series AStreamlined (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$45M99 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 2018SeedEngie 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

Investors in 99 Minutos by funding rounds participated
InvestorHQRoundsRoleFirst check
KaszekBrazilSão Paulo2LeadJun 2021
Unpopular VenturesUnited StatesSan Francisco, CA2ParticipantMar 2020
Prosus VenturesNetherlandsAmsterdam2LeadJun 2021
Christer AnderssonSwedenStockholm2ParticipantMar 2020
Bossa InvestBrazilSão Paulo2ParticipantMar 2020
J20 VenturesUnited StatesNew York City, NY1ParticipantMar 2020
Acacia Venture Capital PartnersChinaShanghai1ParticipantMar 2020
Y CombinatorUnited StatesSan Francisco, CA1ParticipantMar 2020
StreamlinedUnited StatesSan Francisco, CA1LeadMar 2020
Liquid 2 VenturesUnited StatesSan Francisco, CA1ParticipantMar 2020
Engie FactoryChileSantiago1ParticipantJul 2018
Incisive VenturesUnited StatesSeattle, WA1ParticipantMar 2020
Wes SchwaljeUAEUAE1ParticipantMar 2020

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Acquisitions 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

Muvsmart
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 CountryChile
HQ City
Santiago
Deal Date7 May 2019
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to 99 Minutos
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FlexeUnited StatesSeattle, WAPrivate--$1B-
Neovia Logistics ServicesUnited KingdomLeicesterPrivate--$1B-
Nimble RoboticsUnited StatesUnited StatesPrivate--$1B-
ShipBobUnited StatesUnited StatesPrivate--$1B-
ShadowfaxIndiaIndiaPublicly listed$438M$24M$1.5B2.8x
Transfar Zhilian CoChinaChinaPublicly listed$3.7B$258M$1.9B1.3x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hangzhou SF Intra-City$3.4B$54M0.2x0.2x11.8x8.4x
Reysaş Lojistik$257M$142M4.8x-8.6x-
CTT Correios de Portugal$1.4B$202M----
Logwin$1.6B$131M0.4x0.4x4.7x4.7x
NTG Nordic Transport$1.8B$135M0.7x0.7x9.6x8.2x
Heartland Express$806M$102M1.2x1.3x9.9x6.8x
Marten Transport$884M$130M1.1x1.1x7.7x7.6x
Ferrari Group$414M$102M2.0x1.9x8.0x7.4x

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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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