Chiper Raises $12 Million Series A to Accelerate The Digital Transformation of Corner Store Retail in Latin America

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SAN FRANCISCO, Oct. 16, 2020 /PRNewswire/ — Chiper, an e-commerce platform for independent merchants, today announced it has raised a $12 million Series A round from WIND Ventures, Monashees and Kaszek Ventures. The company, which has built the largest branded network of digitized corner stores in Latin America, will use the money to further its mission to transform corner store retail throughout the region.”At Chiper, we are dedicated to empowering a new generation of corner store owners through continuously striving for pairing an excellent customer experience with best prices and easy delivery, making them more competitive,” said Jose Jair Bonilla, CEO of Chiper.¬†“We currently have 3,000 active stores in Mexico and Colombia and that is just the beginning.¬†This is an untapped market, where it’s estimated that less than 0.1% of transactions are currently done online. We are excited to partner with our new investors to expand to new markets and fulfill our mission to provide a competitive advantage to our users.”In Latin America, small corner stores generate over $330 billion in annual revenue and remain a vital retail channel across Latin America, especially for low-and-medium income consumers, providing everything from groceries to personal care products to baby products. In fact, over 65% of …

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