• DTS.USA
    5.320
    -0.013
    -0.2%
  • NTI.USA
    2.800
    0.000
    0%
  • NTID.USA
    2.760
    -0.100
    -3.5%
  • NTIDL.USA
    1.940
    -0.100
    -4.9%
  • OTRI.USA
    6.190
    0.010
    0.2%
  • OTVI.USA
    12,391.500
    -166.900
    -1.3%
  • DTS.USA
    5.320
    -0.013
    -0.2%
  • NTI.USA
    2.800
    0.000
    0%
  • NTID.USA
    2.760
    -0.100
    -3.5%
  • NTIDL.USA
    1.940
    -0.100
    -4.9%
  • OTRI.USA
    6.190
    0.010
    0.2%
  • OTVI.USA
    12,391.500
    -166.900
    -1.3%
American ShipperNewsTechnologyTop StoriesTrucking

Latin American freight forwarder Nowports secures $60 million in funding

Logistics startup will use funding to grow presence in Brazil

Nowports, a Monterrey, Mexico-based digital freight forwarder, has closed a series B funding round, securing $60 million.

The 3-year-old logistics startup said it is seeking to raise capital so that it can achieve “aggressive growth” in Brazil, develop the capacity of its current offices and support the development of its clients. 

Nowports says it streamlines the import and export processes of Latin American companies by improving supply chain visibility. As a digital freight forwarder, the company can provide customers with financing services and cargo insurance, according to Nowports. 

Nowports has offices in Mexico, Chile, Colombia, Uruguay, Peru and Brazil. The Peru office is nearly 3 months old. The Brazil office is strategic because of Brazil’s role in global maritime trade, according to Nowports. 

“We are excited about the challenges that we are going to face with this investment — starting with faster growth in the countries where we already are, strengthening the relationship with the Asian countries where we import the most, and reinforcing the digital transformation with more efficient tools and financial facilities. Altogether, Nowports is the most integrated solution for supply chains in Latin America,” said co-founder and CEO Alfonso de los Rios in a statement.

Funding detailsNowports 
Funding amount$60 million
Funding roundSeries B
Lead investorTiger Global Management
Secondary investorSoftBank Latin America Fund, DST, Mouro Capital, Monashees, Base10 Partners, Broadhaven Ventures, Foundation Capital
Business goals for the roundPursue growth opportunities in Brazil, expand offices and support customers’ development
Total funding$84 million in Series A and B 

The company less than five months ago was closing its series A funding round, raising $24 million, Nowports said Thursday. 

“The current supply chain crisis highlights the need for increased transparency and efficiency in the complex web of global logistics. Nowports’ platform brings international trade online,” said Matt Pieterse, an investor at SoftBank Latin America Fund.

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Joanna Marsh

Joanna is a Washington, DC-based writer covering the freight railroad industry. She has worked for Argus Media as a contributing reporter for Argus Rail Business and as a market reporter for Argus Coal Daily.