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Mexican Jüsto buys startup Freshmart to expand to Peru

Freshmart is the main online supermarket in Peru and is now owned by the Mexican startup Jüsto, which promises to make it grow "15 times more in the next 3 years" according to its CEO.

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Just last September, the Mexican platform Jüsto started operations in Brazil with an investment of 40 million dollars. Now, the startup that promises to become a unicorn is expanding its expansion in Latin America with the purchase of Freshmart , the main online supermarket in Peru .

Cortesía Jüsto / Freshmart vía Facebook

Jüsto , the first 100% digital Mexican supermarket, was already a minority partner of Freshmart since its last capital raise. Through a statement, the Mexican platform confirmed the acquisition, being the first time it has bought a key company in the region.

“After being investors for a while in the company, we were really impressed by the ability to execute on the entire Freshmart team and how much they have accomplished with limited resources. We are honored to be able to integrate Freshmart and its team to the Jüsto platform, with which we share vision and values, ” said Ricardo Weder, CEO and founder of Jüsto , in a statement.

Without specifying the amount of the transaction, Weder said this strategic move will accelerate Freshmart 's growth in the coming years.

“The purchase is one of the greatest successes in the history of Peruvian entrepreneurship. We believe that with us, Freshmart will grow 15 times more in just 3 years ” , commented the CEO of Jüsto to Peru Retail .

After the purchase, the Peruvian company will retain its name, but will operate under the standards and business model of Jüsto, especially in terms of artificial intelligence and technological development.

For its part, Freshmart also celebrated the acquisition and said they are excited about the challenges and learnings that await them.

“At Freshmart we are a 100% Peruvian team and as such, we have extensive experience and knowledge of the market, together with Jüsto's practices, we will have greater growth, both in sales and geographically. […] We are proud to join forces with a Mexican company that is transforming the consumer industry in Latin America ” , expressed Sebastián Otero Vegas, co-founder and CEO of Freshmart .

Both platforms share values and a similar scheme of operations: offering food and household products in its digital store and delivering them to home.

Founded in 2016, Freshmart has managed to multiply its business 7 times since then and today it covers between 18 and 20% of the market in the digital food trade in Peru. With the purchase by Jüsto , the startup expects a tenfold growth in the next five years.