Most funded Latin American online supermarkets 2022

As of December 2022, Jüsto – Mexico's first delivery-only grocery store – was the most funded online supermarket with headquarters in Latin America, having attracted investments of approximately 244 million U.S. dollars. Second ranked was Brazilian-based Shopper, which after raising more than 60 million in a Series C round in December of 2021, amounted to about 107 million dollars.

The new age of convenience

Online grocery shopping is a relatively new habit in Mexico. However, its development and adoption have grown rapidly, particularly after the COVID-19 outbreak in 2020, which acted as a catalyst to get this trend off the ground. Since late March of that year, following the government's decision to impose movement restrictions to help contain the pandemic, visits to online grocery stores spiked, reaching a peak in the month of June. Nevertheless, remote purchasing of groceries may now be part of the "new normal" for Mexicans. In addition to maintaining a high level of visits to websites offering this service, the share of shoppers switching to grocery delivery also multiplied during the health emergency.

Food delivery, another rising star

In 2021, online food delivery revenues in Latin America were estimated at around 5.4 billion U.S. dollars, up more than 21 percent from the previous year. Brazil accounted for nearly half of the region's online food delivery market, and was followed distantly by Mexico and Colombia, respectively. Just like e-grocers, online food delivery companies of Latin American origin have also received large funds for their development over the past years. While Colombian unicorn Rappi received more than two billion U.S. dollars in funding between 2016 and 2022, Brazilian platform iFood has raised nearly 592 million dollars since 2011, over seven investment rounds.