Jüsto Raises $152M Series B Financing
Gunderson Dettmer represented Mexico City-based client Jüsto, an online supermarket delivery-only grocery store chain, in its $152 million Series B financing led by General Atlantic with participation from Tarsadia Capital, Citius, Arago Capital, Foundation Capital, and Quiet Capital. The company’s platform enables customers to buy groceries from its website or app and delivers the order to the customer’s location of choice. The new capital will be used for further expansion in Latin American markets.
In the announcement of the transaction, CEO of Jüsto Ricardo Weder said, “Right now, we believe we have a mature value proposition, especially as our operations expand aggressively and we improve the technology to scale up operations. We are the leading grocer in Latin America, and we see the biggest companies, like Walmart, as competitors, so there are still things we can do to increase our share. Mainly grocery stores are focusing on infrastructure, and Jüsto is pursuing that also.”
The Gunderson deal team was led by Daniel Green and Bradley Krack and included Andre Lee, Nicole Blansett, Colin Chapman, Jamilah Mena.