99minutos.com

About 99minutos.com

99minutos.com operates as a technology-driven logistics platform tailored for the e-commerce sector in Latin America, positioning itself as a key infrastructure provider in a market projected to reach $160 billion by 2025. Founded in 2013 by Alexis Patjane and Jose Antonio Salomon, the company originated from a simple need for on-demand delivery, which was highlighted during a casual outing. This initial idea evolved from an e-commerce store that guaranteed delivery in under 99 minutes into a dedicated logistics-only business.

The company's business model is centered on providing a comprehensive suite of logistics services to online retailers of all sizes. Revenue is generated through several streams, including flat-fee delivery services, fulfillment solutions, and a SaaS offering for route optimization. Its core service, last-mile delivery, offers multiple speed options such as under 99 minutes, same-day, and next-day delivery. Responding to market needs, the company has expanded its offerings to create an end-to-end logistics ecosystem. This includes 'Fulfill99' for inventory storage, picking, and packing; 'Punto99', a network of pick-up and drop-off points to handle returns and add convenience; and 'Ruta99', a SaaS tool for route optimization. This integrated approach allows e-commerce clients to outsource their entire logistics operation.

CEO Alexis Patjane, an industrial engineer and serial entrepreneur, has guided the company through significant growth phases. The journey included a pivotal pivot from a direct-to-consumer model to a B2B logistics provider and navigating a challenging investment landscape before gaining traction with international VCs after participating in the Y Combinator accelerator program in 2020. The company has secured $122 million in total funding over four rounds, including a significant $82 million Series C in March 2022, led by Oak HC/FT with participation from existing investors like Kaszek and Prosus Ventures. This capital is being used to scale its business models, expand its geographical footprint, and invest in sustainability initiatives, such as increasing its fleet of electric vehicles. Operating in over 60 cities across Mexico, Chile, Colombia, and Peru, 99minutos leverages technology, including dynamic route optimization and real-time GPS tracking, to manage the logistical complexities of the region.