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A $25 million Series A fundraising round has been finalized, according to clicOH, the tech-enabled supplier of ultrafast shipping for enterprises in Latin America. As the business continues to transform the region’s logistics infrastructure, the round, which was led by Tiger Global with participation from JAM Fund, will assist in rapid expansion into new markets.
Operating in Argentina, Mexico, Chile, and Uruguay is cliche, a 2018 startup. The funding will let cliche enter Colombia and launch new products that will improve the vendors’ experiences. Participating in this round were previous investors Flexport, FundersClub, and Vast VC. The entire amount of funding raised by clicOH since its founding is $33 million.
“Local infrastructure issues, such as a lack of tech-enabled infrastructure and population distribution conditions, have long limited the capacity of global delivery firms to function in Latin America,” stated Agustin Novilllo Saravia, co-founder and CEO of clicOH. Now, clicOH enables e-commerce enterprises to rapidly and securely ship goods across the area at considerably lower prices than the revenue share of huge marketplaces. This is made possible by technology and an integrated network of industry partners.
The least developed yet fastest-growing region in the world for e-commerce is Latin America. By enabling sellers to follow shipments in real-time via a dashboard with crucial indications and traceability, clicOH’s proprietary technology is advancing Latin America’s digital trade. The quantity of shipments that clicOH has processed so far this year is increasing at a rate of about 30% every month.
According to our research, Clicoh is substantially reducing shipment times for its clients. As they open up new markets in Latin America, we are thrilled to work alongside Agustin and the team, according to Tiger Global partner Scott Shleifer.
With regards to clicOH
With the goal of assisting e-commerce companies, whatever their size, to deliver products to the same standards as Amazon, clicOH was established in 2018. With the help of clicOH’s technology, we can better monitor consumer behavior in order to keep our inventory very close to customer demand and reduce shipping times. Also, our asset-light business model enables us to operate in any country globally. Argentina, Mexico, Chile, Uruguay, and Colombia are just a few of the countries in Latin America where clicOH is active. Y Combinator alumni include clicOH (2021).
Tiger Global’s profile
Tiger Global is a financial services company with a focus on public and private businesses in the financial technology, software, and internet industries. Tiger Global’s venture division has made investments in hundreds of businesses since 2001, spanning from Series A through pre-IPO. In its primary focus areas, the company seeks to collaborate with innovative entrepreneurs running market-leading businesses. Among the companies in which Tiger Global has invested are Stripe, Shein, Bytedance, Meta (formerly Facebook), LinkedIn, Spotify, Flipkart, and Toast.
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