clicOH acquires Rayo to consolidate its leadership in eCommerce logistics in Latin America

PRESS RELEASE from clicOH
May 13, 2024

(Machine translation of original release, issued in Spanish)

Santiago, May 13, 2024 . clicOH (YC21), the logistics solutions startup powered by artificial intelligence that is revolutionizing shipping in Latin America, announces the acquisition of Rayo, a Chilean startup focused on the last mile, founded in 2017. After a year of negotiations, both operations of Rayo in Chile and Mexico are now fully integrated into clicOH. Due to an agreement between clicOH and Rayo, no acquisition figures will be revealed.

In its 7 years of experience, the Chilean Rayo found in technology, express delivery and digitalization; the solution to solve the needs of large companies to make inventory management more efficient, integrate systems with online sales and speed up the speed of deliveries at the demanding pace demanded by eCommerce.

The founders of Rayo, Martín Arancibia, (ex Claro - América Móvil) and Juan Andrés Cabrera (ex Uber); In addition to maintaining their executive positions in Chile, they will now take on new corporate leadership roles in the clicOH structure.

clicOH, present in 4 Latin American countries with 250 employees, is a YCombinator technology startup that received USD 33 million in investment from Tiger Global Management, JAM Fund, Flexport, FundersClub, among others, to bring a cutting-edge logistics technology solution to the market. tip for eCommerce. clicOH grew 420% last year, driven by the development of its own technology and a client portfolio with leading brands. The proposal to operate under the same quality standard in different Latin American countries in SAME DAY and NEXT DAY shipments, just as Amazon and Mercado Libre do, led clicOH to make more than 7 million deliveries in the region last year.

Prior to the purchase of Rayo, clicOH acquired LOGYSTO , a startup focused on comprehensive logistics solutions with technology for large companies in Colombia. clicOH, with a presence in 4 countries, is today among the top logistics technology startups in Latam.

Lightning's profile

Lightning, emerged as one of the leaders of the B2B2C last mile in the pandemic. Then, as the business matured during the post-pandemic, the company continued to grow and expand its services in Mexico. At the time of the acquisition, Rayo has a presence in 17 cities in Chile, an average of more than 100,000 monthly deliveries, more than 1,000 unique delivery drivers and a portfolio of more than 40 large, first-level corporate clients. In February 2024 it achieved break even . Furthermore, in Mexico starting in 2019 it began operating in 5 cities until, in its expansion process, it encountered clicOH and changed its history.

Rayo was the winner via Start-up Chile of CORFO funds in 2 instances, Semilla and ScaleUp. In 2022 and 2023 consecutively, it was selected among the 100 best startups in Chile in the ranking prepared by Forbes together with the Rockstart accelerator. The support of angel investors and institutions such as Endeavor and Bluebox, both in Chile and Mexico, were key to overcoming the unexpected challenges presented by the social outbreak in 2019 and the pandemic where Rayo found numerous opportunities to stand out.

“We quickly understood that our real challenge was to gain the trust of the largest players in the market. There, our ability to solve new problems and challenges that came along with the explosion of the express delivery service in Chile was tested. We found in clicOH, a cultural fit very similar to ours. This allowed us to trust that our next step was better taken as part of a team that set its sights on a larger scale: Latin America," commented Martin Arancibia.

Information about clickOH

clicOH is the leading company in comprehensive eCommerce logistics in Latin America. Founded in 2018 by Agustín Novillo Saravia, Emiliano Segura and Juan Altamirano, in 2021 the entrepreneurs were selected to enter YCombinator , the most important accelerator in the world. In 2022 they received funds of USD 33 million from investors such as Tiger Global Management, JAM Fund (led by Justin Mateen, co-founder of Tinder), Flexport, Funders Club among others.

From that moment on, a process of expansion and growth began towards Argentina, Chile, Colombia and Mexico.

clicOH offers technology powered by artificial intelligence as an end-to-end and scalable solution for eCommerce, marketplaces or companies seeking to optimize the distribution of their products. Ensuring a satisfactory shopping experience for consumers with express, same day or next day shipping in the main cities of Latin America is the obsession that mobilizes the transformation that clicOH brings to the market.