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Chiper Secures $12 Million in Series A Round of Financing
Chiper, an e-commerce platform for independent merchants, has raised $12 million in Series A round of financing from WIND Ventures, Kaszek and Monashees Ventures.
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CIO Applications | Wednesday, October 21, 2020

Chiper aims to drive the digital transformation for the large and growing retail market by providing personalized technology to corner store owners and their product suppliers, thereby allowing for smarter purchasing decisions as well as improved store efficiency, including inventory procurement, fulfillment, and management.
FREMONT, CA: Chiper, an e-commerce platform for independent merchants, has raised $12 million in Series A round of financing from WIND Ventures, Kaszek and Monashees Ventures. The company, which has created the largest branded network of digitized corner stores in Latin America, plans to utilize the capital 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," stated 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."
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Chiper aims to drive the digital transformation for the large and growing retail market by providing personalized technology to corner store owners and their product suppliers, thereby allowing for smarter purchasing decisions as well as improved store efficiency, including inventory procurement, fulfillment, and management.
"The Latin American corner store market is huge and remains a valued piece of Latin American culture, yet has been largely untouched by modern retail technology," stated Brian Walsh, head of WIND Ventures. "There is a huge opportunity to boost the growth of e-commerce in Latin America by harnessing fragmented trade and creating an efficient network to deliver products.
We look forward to partnering with Jose and the team to continue Chiper's high growth trajectory towards its important and bold vision."
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