Home lifestyle Liftit ‘last mile’ delivery platform receives US $ 22.5 million investment

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Liftit ‘last mile’ delivery platform receives US $ 22.5 million investment

by ace

SAO PAULO (Reuters) – The last-mile delivery platform Liftit, headquartered in Colombia, announced on Wednesday that it received a contribution of US $ 22.5 million, mainly to expand its operations in Brazil.

The round was led by Cambridge Capital and included International Finance Corporation (IFC), the World Bank’s holding arm, Monashees, Jaguar Ventures, NXTP Ventures.

Created in 2017, Liftit uses a cloud-hosted technology platform that connects large Latin American freight forwarders to a network of drivers.

Unlike platforms like CargoX and BBM, which connect truck drivers for long-distance deliveries, Liftit integrates smaller vehicles, with a capacity of up to one ton.

Liftit works with independent drivers, but is also investing in its own network of truck drivers, with which couriers can set up small businesses.

The company arrived in São Paulo a year ago and has companies such as Lojas Renner and Hortifruti among its customers. After debuting in Rio de Janeiro last week, with the contribution Liftit plans to reach Curitiba, Salvador and Florianópolis.

The movement comes at a time when measures of social isolation have caused a jump in purchases through electronic commerce in Brazil and abroad.

“Ecommerce can boost our business,” said Brian York, president of Liftit.

(By Aluísio Alves)

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