NXTP invests in Liftit, a B2B platform that optimizes the delivery of cargo in the last mile in LatAm
Liftit, a B2B platform to optimize the delivery of cargo in the last mile in LatAm, raised $14.3 million in a Series A round of investment co-led by the IFC and monashees, with participation of Jaguar Ventures, Mercado Libre Fund, NXTP and other leading industry investors.
Through the Liftit platform, companies connect with a network of drivers that have different types of cargo vehicles, which allows managing any kind of delivery in the last mile, with real-time visibility and traceability of key metrics.
By automating and optimizing delivery processes, companies achieve a significant reduction in operating costs – on average, savings of up to 25%, according to company data.
On the other side, Liftit has a positive impact on its network of thousands of drivers. The platform allows them to reduce their downtime and increase their revenue by 20% to 30%.
With large customers such as Bimbo, Homecenter and Walmart, LiftIt is already a market leader in Colombia and also has fast-growing operations in Mexico, Brazil, Chile and Ecuador. With this new investment, the company is accelerating and deepening its regional expansion plan.
“We are very happy with this new round. It will help us to continue optimizing transport logistics in more countries in Latin America and will benefit both companies and truck drivers.” said Brian York, CEO of Liftit.
“We are confident that technology and innovation can help Latin America tackle some of the most important development challenges in the region,” said Gabriel Goldschmidt, IFC’s director for Latin America and the Caribbean. “Liftit is a great example of a company that can help improve business and retail operations in Latin America, where the lack of technology in the logistics sector gets in the way of efficient commerce and limits the flow of goods and services,” said Goldschmidt.
With distribution costs that are among the highest in the world, last mile cargo delivery is a big problem for SMEs in Latin America. Traditionally, this is the most inefficient stage of the supply chain and represents 15% of the cost of operations of SMEs in the region, a much higher percentage compared to more developed markets.