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Contxto – Boxit—the Panamanian logistics startup—signed an investment deal with FCJ Venture Builder according to a recent press release. Moreover, this venture capital (VC) firm has agreed to lead Boxit’s Series A, for an undisclosed amount.
The startup also has expansion plans. As its first “Smart Locker,” or self-service locker for picking up packages, has already been installed in Brazil.
Related article: The thriving Brazilian e-commerce market
Logistics and smart lockers
Ilan Shatz, Francisco Terrientes, and Jorge Segares launched Boxit in 2015 as a solution for e-commerce businesses. Unlike other logitechs that use partnering couriers to complete the delivery, this startup sets up “Smart Lockers.”
Here’s how they work.
A person completes a purchase online. To receive their goods, rather than waiting for a messenger to deliver it, on the platform they request it be delivered and stored in one of Boxit’s Smart Lockers.
They can track the product as it makes its journey to one of these lockers. The startup’s platform will also provide the user with a unique code that they can use to access the parcel at one of the strategic points where these lockers can be found.
Likewise, consumers have payment flexibility with this startup.
As buyers have the option of paying electronically as they would on any typical e-commerce site. Or, if they can pay in cash where the startup’s lockers can be found.
Related article: Loggi raises US$150 million, becomes Brazil’s newest unicorn
Pride in Panama’s technology
One might find it’s a big jump from a small market like Panama’s, to Brazil. And Ilan Shatz, one of Boxit’s Co-founders, has heard that story before.
“We were often told we’re crazy to have started out in Panama,” he stated.
“A country that’s small in comparison to the rest of the region. Nonetheless, with this expansion, we’re showing that the country is capable of validating its technology in much larger and demanding countries, like Brazil.”
Gutsy, as every founder should be.
And in any case, Brazil’s e-commerce is growing and Boxit brings a different approach towards handling deliveries. Rather than relying on others like Loggi’s deliverers, a person picks up their stuff whenever they want. No lines or waiting around for a courier. But they will have to go to a fixed location.
Ultimately, both models have their pros and cons.
What they share in common is an understanding of the importance of giving users more flexibility in their online shopping experience.
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