Argentina-based ClicOH, which lets sellers across Latin America track shipments in real time via its dashboard, raises a $25M Series A led by Tiger Global
E-commerce is an $85 billion business in Latin America, and as that market is poised to essentially double in three years …
Context & Ripple Effects
ClicOH's raise lands mid-way through a funding wave in Latin America's e-commerce logistics layer: Tiger Global already led Nowports' $60M Series B for cross-border shipping in December 2021, and 99minutos pulled in an $82M Series C for last-mile delivery just months before this round. With the region's e-commerce market at $85 billion and expected to roughly double within three years, investors are racing to own the software and infrastructure that moves those goods.
What distinguishes ClicOH is its position: rather than running deliveries itself, it sells real-time shipment visibility to sellers via a dashboard — a software wedge into the same vendor base that 99minutos serves with physical logistics.
First-order effects
- The $25M gives ClicOH capital to scale its tracking platform across Latin American markets while Tiger Global adds a second logistics bet to its regional portfolio alongside Nowports.
- Sellers using the dashboard gain shipment visibility without committing to a single carrier or fulfillment provider, since ClicOH monetizes information rather than transport.
Second-order effects
- 99minutos, which raised far more capital to operate actual deliveries, now faces software rivals that can sit on top of any carrier — pressuring it to match ClicOH's visibility features or bundle them into its own service.
- Carriers and couriers across the region risk becoming commoditized pipes if aggregators like ClicOH control the seller relationship and the data layer above them.
Third-order effects
- If the market doubles as projected, expect consolidation around whoever owns the merchant-facing logistics interface — with well-funded players like 99minutos potentially acquiring or building tracking software rather than ceding that layer.
- Tiger Global's pattern of leading rounds across the region fits sources' reporting that its aggressive COVID-era deployment fueled rapid unicorn creation — meaning ClicOH's valuation will be tested against the same discipline Tiger later applied when it cut Superhuman's and DuckDuckGo's valuations sharply in 2023.
The trend: Venture capital is concentrating on Latin America's e-commerce logistics stack, with Tiger Global repeatedly anchoring rounds as the region's $85 billion online retail market heads toward doubling.