Colombian e-commerce fulfillment startup Cubbo landed $4 million in seed funding as it launches operations in its home country this month after first going into Mexico earlier this year. Their vision is to transform city spaces throughout Latin America. For example, the company took over an abandoned space in Mexico City and turned it into an urban fulfilment center for its brands. To keep costs down and the ability to get an order out the same day, Cubbo only handles non-perishable goods that are the size of a shoebox or smaller. This means items like cosmetics, consumer electronics and apparel. It also does not transport items itself, but partners with third parties to tackle the last-mile delivery after the company has picked, packed and bundled packages strategically.
The latest funding round was led by SV Latam Capital and included Bragiel Brothers, BluStone and a group of individual angel investors including Wonder Brands founders Federico Malek and Nicolas Gonzalez Luna, Merama co-founder Olivier Scialom, RioGrande co-founder Tono Mandly, 99 Minutos CEO Alexis Patjane, Justo CEO Ricardo Weder and Loft CEO Florian Hagenbuch. In the short period of time the company has been in business, it has grown to a team of 16 in Mexico and three in Colombia. York will also use the funding to round out the leadership team. He also plans to raise a Series A early next year as the company moves toward becoming cash flow positive by the second quarter of 2022.