Jüsto Raises $70 Million in Equity and Debt Financing from General Atlantic, HSBC, and Other Investors to Propel Growth

Jüsto, the premier online supermarket in Latin America with operations in Mexico, Brazil, and Peru, has announced a successful fundraising round of $70 million in equity and debt financing. The equity component, totaling $50 million, was led by General Atlantic, a prominent global growth investor, while HSBC Mexico structured approximately $20 million in debt financing. Jüsto plans to utilize this capital to advance its growth strategy in Mexico, enhance operational efficiencies, and innovate traditional e-commerce models across the region.

Founded in 2019 by CEO Ricardo Weder, Jüsto emerged as Mexico’s first fully-integrated, digital-only supermarket platform and has quickly established itself as a leader in the Latin American online grocery sector. With a market potential exceeding $600 billion, the company aims to transform the supermarket landscape in Latin America through technology and fair supplier relationships. Jüsto is dedicated to efficiently sourcing fresh produce, providing customers with a comprehensive shopping experience and boasting a remarkable 99% fulfillment rate.

As the only first-party supermarket operating across all of Latin America, Jüsto employs artificial intelligence and data analytics to forecast demand, minimize waste in warehouses, and streamline daily operations. The company’s proprietary software facilitates the management, selection, and delivery of orders. By cutting out intermediaries from the supply chain, Jüsto offers competitive pricing, lower transaction costs, and increased convenience, leading to higher purchase frequency and retention rates—outpacing levels observed during the pandemic and positioning the company for sustained growth and improvement.

“This new round of financing highlights the strong confidence our investors have in Jüsto, our team, and our unique approach,” said Ricardo Weder, Founder and CEO of Jüsto. “We are eager to continue utilizing our capital to redefine the shopping experience in Latin America through advanced technology and efficient operations.”

“Mexico and Latin America present immense opportunities for disruptive digital innovation as the grocery sector increasingly shifts toward an omnichannel experience. We believe Jüsto’s technology-driven customer service, high-quality products, and vertically integrated model will further transform the consumer shopping experience in Mexico. We are pleased to deepen our partnership with Ricardo and the Jüsto team during this next growth phase,” stated Zeev Thepris, Vice President at General Atlantic.

“HSBC is committed to supporting true disruptors in Mexico’s rapidly evolving digital landscape. We are excited to provide the financial backing that will empower Jüsto to continue driving innovation and meeting consumer needs,” added Juan Carlos Pérez Rocha, Head of Corporate Banking at HSBC Mexico.

Jüsto takes pride in promoting a socially and environmentally responsible culture in the regions where it operates. The company sources a diverse range of high-quality products from both large consumer goods companies and small local producers, helping to bolster the economic activity of rural and semi-rural communities at competitive prices.

About Jüsto

Jüsto aims to improve the lives of Mexicans and Latin Americans by introducing a new generation of supermarkets. The company designs, develops, and implements the technology that supports various internal processes, from inventory management to operations and logistics. Operating entirely online—without physical stores—Jüsto delivers directly to customers’ homes, ensuring 100% order fulfillment and commitment to delivering the freshest produce, meats, and seafood. With a vast catalog of products from well-known brands and local producers, Jüsto is building a fairer, more sustainable supermarket model, empowering small and medium-sized producers to sell their products online. The company also assists suppliers in establishing distribution processes and negotiating fair trade agreements for all parties. For more information, visit www.justo.mx, www.soujusto.com.br, and www.freshmart.pe (Facebook, Instagram & TikTok: @justomx).

About General Atlantic

General Atlantic is a leading global investor with over four decades of experience providing capital and strategic support to more than 520 growth companies. Founded in 1980, General Atlantic partners with visionary founders and investors to build dynamic businesses and create long-term value. The firm combines a collaborative global approach, sector expertise, and a long-term investment horizon to scale innovative businesses worldwide. As of October 1, 2024, General Atlantic manages approximately $97 billion in assets across various strategies. For more information, visit www.generalatlantic.com.

About HSBC

HSBC México is one of the leading financial and banking groups in Mexico, boasting 842 branches, 5,558 ATMs, and a workforce of 13,589 employees. For more details, visit www.hsbc.com.mx. HSBC Holdings plc, headquartered in London, serves customers from offices in 60 countries and territories and, as of June 30, 2024, has total assets of $2.975 trillion, making it one of the largest banking and financial services organizations globally.

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