Cubbo's urban-fulfillment bet: 5pm CDMX cutoff, Brazil growth, now Natura's logistics

Cubbo is a LatAm e-commerce fulfillment operator: it runs small urban warehouses (micro-fulfillment centers), picks and packs shoebox-or-smaller non-perishables, and partners with last-mile couriers so brands can offer same-day delivery without building logistics.

E-commerce brands will outsource fulfillment to small urban warehouses that beat Amazon and Mercado Libre's same-day cutoff, scaling city by city across LatAm.

US$4M seed (Nov 2021) led by SV Latam Capital with Bragiel Brothers and BluStone; undisclosed pre-Series A (2022) including Gerdau Next Ventures and Gaingels

Brian York (born in Bogotá, raised in Boston) and Josu Gurtubay, who had worked together in third-party logistics, founded Cubbo in January 2021. They bet that LatAm brands — with roughly 20% of sales already direct-to-consumer, per York — wanted Amazon-grade delivery without surrendering customer data and margins to marketplaces.

Raised a US$4M seed in November 2021 and launched in Mexico, then Colombia. By mid-2022 the company claimed a 274% revenue increase since the seed announcement, profitability, and an undisclosed pre-Series A including Gerdau Next Ventures, after acquiring São Paulo logistics firm DedaLog in March 2022 and planning new warehouses in Bogotá, São Paulo and Rio.

Still running and scaling into Brazil: by 2025 Cubbo operated fulfillment centers in São Paulo, Rio de Janeiro and Rio Grande do Sul, was hired to run Natura's e-commerce and direct-sales logistics for the state, and had customers paying for its own warehouse software (Invoka interview, Nov 2025).

The bet is sharply testable: urban micro-fulfillment could beat Amazon and Mercado Libre's same-day cutoff from inside the city, and TechCrunch documented the 5 p.m. edge in 2021.

Traction has concrete numbers: ~600% order growth in November 2021, +274% revenue by June 2022, then profitability, all in named outlets.

It shows a niche wedge scaling across borders: same small-warehouse playbook, first Mexico-Colombia, then Brazil via the DedaLog acquisition.

The outcome is unusual for LatAm logistics: still independent and expanding into a large enterprise account (Natura) rather than consolidating or shutting down.

Proximity is a logistics moat: in-city inventory beat competitors' same-day cutoffs, and the same playbook — small urban centers plus local partners like DedaLog — crossed borders.

As of November 2025 Cubbo is operating in Mexico, Colombia and Brazil with urban micro-fulfillment centers including São Paulo, Rio de Janeiro and Rio Grande do Sul. It was hired to run Natura's e-commerce and direct-sales logistics for Rio Grande do Sul (O Repórter, 2025-05-27), and its own warehouse software had become a paid product in Brazil, per the Invoka interview. No revenue or headcount figures for 2025 were disclosed, and the Series A planned for 2022 has not been confirmed as closed.