On The Heels Of The Nearshoring Boom, Logistics Startup Nuvocargo Raises $36.5M To Modernize Us-Mexico Trade, Expands To All Major Us-Mx Border Crossings
On The Heels Of The Nearshoring Boom, Logistics Startup Nuvocargo Raises $36.5M To Modernize Us-Mexico Trade, Expands To All Major Us-Mx Border Crossings
06/27/23, 7:03 PM
Location
new yorkMoney raised
$36.5 million
Industry
financial services
software
Nuvocargo, the first all-in-one digital platform focused on modernizing U.S.-Mexico cross-border trade, announced today that it has raised $36.5M in Series B funding. The round was led by QED Investors with participation from all existing investors including NFX, Tiger Global and ALLVP, plus new investors Tresalia Capital, Amador Holdings, and the co-founders of Dropbox, Repl.it and Platzi. This new round values the company at more than $250M, more than 40 percent higher than the $180M valuation it earned in late 2021, and brings its total funding to date to more than $75M.
Company Info
Location
new york, united states
Additional Info
Logistics startup Nuvocargo is the first all-in-one digital platform focused on U.S.-Mexico cross-border trade – one of the largest bilateral trade lanes in the world. Modernizing a $2T industry that’s been mostly reliant on paper, fast-growing Nuvocargo combines proprietary software with a team of bilingual experts to seamlessly and transparently manage end-to-end cargo movement in a single platform. The company has the most experience on both sides of the border, unique access to hard-to-get routes, and add-on services such as customs, insurance and financing – everything a shipper or carrier needs to simplify logistics. Nuvocargo is backed by over $75M in funding from QED Investors, Tiger Global, NFX, Homebrew, Y Combinator, among others. Nuvocargo has been recognized in YC Top Companies 2023 and as one of the 10 Most Innovative Companies in Latin America by Fast Company for two consecutive years. Learn more at nuvocargo.com/en.