Nuvocargo Funding Round

6/27/2023

Venture Equity

$36,500,000

Series B

The new funds are meant to allow Nuvocargo to better address its enterprise-level demands. It is now expanding its services to all U.S.-Mexico border crossing locations (it previously only served Laredo, Texas, the largest shipping hotspot on the border) and recently added a customs brokerage offering. Morton said the company had a big immediate opportunity to hire more U.S.-based salespeople to focus on American companies -- currently, the company has largely targeted Mexican exporters and two-thirds of its 150 employees are based in Mexico City. And Chhugani is beginning to think about where Nuvocargo could be years from now: in Canada, in Latin America or expanding other modes of transportation, like trains. It's a luxurious position to be in given fintech's contraction and a downturn in the freight industry.

Private & Independent

Transportation

154 Grand St. Level 5
New York, NY 10013
USA

Undisclosed

Our team has decades of experience building leading technology products and logistics businesses across the USA and Latin America. With teams in both USA and Mexico, our bilingual and multicultural team deeply embodies both the USA and Latin American cultures. This gives us a unique appreciation and empathy with all stakeholders in every cross border shipment.