October 2, 2022
Nowports hits unicorn status at $1B valuation with new funding

“We are excited to earn the trust of large investment funds and join the short list of unicorns in Latin America,” Alfonso de los Ríos, co-founder and CEO of Nowports, said in a statement. “This enhances our commitment to transforming the region’s supply chains with technology and agile access to financing for companies that import or export goods.”

Nowports aims to digitally streamline the import and export processes of Latin American companies, especially small and midsize enterprises, by improving supply chain visibility. The company also provides customers with financing services and cargo insurance. 

Monterrey, Mexico-based Nowports currently has offices in Mexico, Chile, Colombia, Uruguay, Peru and Brazil. Since the company’s founding in 2018, Nowports has grown to more than 500 employees.

Nowports is one of a handful of unicorns, companies valued at more than $1 billion, in Mexico. Other Mexico-based unicorns include Bitso, Clara, Konfio, Merama and Kavak, according to multiple news outlets.

» continue to FreightWaves