Quincus is interested in expanding Latin American e-commerce marketplaces.
Quincus, a supply chain optimization business, recently built offices in Mexico and Colombia in order to capitalize into Latin America’s developing tech infrastructure and e-commerce sectors.
Quincus officials stated that with over 300 million digital purchasers in Latin America, there is a demand for logistics solutions that can optimize middle-mile cross-border shipments in Latin American e-commerce.
“I believe we have a market that is extremely thirsty for new technology, and we need to approach it very rapidly because we have a large giant to the north, the United States, that is eager to do business,” Oscar Romero, Quincus’ head of Latin America expansion, told FreightWaves.
Romero, who is located in Monterrey, Mexico, claims that the company’s technology addresses the “first, middle, and last mile.”
“By opening offices [in Latin America], we can provide additional chances to interact with manufacturers — consumer packaged goods businesses, fast-moving consumer goods companies — before moving into 3PLs and, of course, e-commerce in complex scenarios to help with last-mile delivery,” Romero explained.
Quincus was launched in 2014 by CEO Jonathan Savoir and Chief Product Officer Katherina Lacey.
Quincus, based in Singapore, is a software-as-a-service platform that uses artificial intelligence and machine learning to improve, streamline, and automate logistics for end-to-end processes.
Quincus stated in September that it had raised an undisclosed sum in the second close of its most recent round of investment at a valuation of more than $100 million. Officials from the company stated that the funds will be used to expand into Latin America, as well as South Korea and Japan.
Quincus works with all types of transportation, according to Romero, although the company’s “primary concentration is in ground transportation at the moment.”
“We’re expanding the capabilities and visibility that we provide with our platform with new partners who will be more involved, and it will provide us more visibility on air transport and ocean transport as well,” Romero added.
According to the Mexican Online Sales Association, Mexico’s e-commerce business was valued at $15.8 billion in 2020, a rise of 81% from 2019. (AMVO). In 2020, Mexico had 50.7 million e-commerce users, a 9% increase over 2019.
According to AMVO, Mexico might have more than 77 million e-commerce users by 2025 as a result of improved connection, higher financial inclusion, streamlined logistics, and increasing digital literacy.
According to Americas Market Intelligence (AMI), a Florida-based business research and consulting firm, the Colombian e-commerce market would grow by 20% to $18.8 billion by 2021. According to AMI, the Colombian e-commerce business might reach $34.5 billion by the end of 2024.
According to Romero, Quincus will help simplify up to 100,000 freight transactions per month throughout Latin America.
“We have a very scalable solution, we can work with medium-sized businesses, and we have prospects in large businesses,” Romero explained. “We’ve built our marketing and commercial solutions with modularity and scalability in mind for a variety of scenarios.”
The outward tender volume index in Laredo, Texas (OTVI.LRD), according to FreightWaves’ SONAR technology, fell around 8% week over week but has risen nearly 3% since Tuesday. On the US-Mexico border, Laredo is a vital port of entry for cross-border freight.
Laredo handles a wide range of Mexican products, including machinery, electronics, and food. Produce season has been driving freight volume in South Texas over the last few months. Over the next few months, Florida and California will export out more produce than Texas.
Watlow establishes a manufacturing facility in Querétaro, Mexico.
Watlow Electric Production Co. recently increased its capacity in Mexico by opening its fourth manufacturing plant in Querétaro.
The $21 million business will employ 1,315 workers and produce industrial electric heaters and sensors. Watlow employs over 2,500 people in Querétaro, Mexico, which is located in central Mexico.
The St. Louis-based company manufactures industrial heaters, temperature sensors, and controllers for semiconductor production, energy processes, diesel engine components, foodservice equipment, and other applications.
According to its website, Watlow operates 13 sites throughout the United States, Mexico, Europe, and Asia. The company employs over 400 individuals in St. Louis and over 3,000 people worldwide.
Dimerco has launched a freight service from Asia to Mexico.
According to a press release, the freight forwarder Dimerco Express Group has recently begun delivering multimodal services for supplier companies shipping high-value components from Asia to manufacturing units in Mexico.
Dimerco’s new Air+Road transport service intends to enable customers to ship door-to-door from China to Mexico via the United States in as little as six to eight days while providing increased security.
To deliver freight to Mexico, the Air+Road product combines regular consolidated flights from China to Los Angeles and Dallas with cross-border bonded trucking services.
Once in Mexico, the cargo is transferred to the international airport closest to the consignee, where customs will designate it as an airport-to-airport shipment from China to Mexico, according to Dimerco.
Dimerco, headquartered in Taiwan, has more than 160 offices in 17 countries across Asia, North America, and Europe.
U.S. Customs and Border Protection officers recently captured 219 pounds of methamphetamine while examining a tractor-trailer in Laredo, Texas.
The incident occurred on March 25 near the Colombia Solidarity Bridge in Laredo. Officers were checking a tractor-trailer arriving from Mexico with a supply of waterproof sealant when the methamphetamine was discovered, according to reports.
The narcotics are worth $4.4 million on the black market. The narcotics were seized by CBP, and the case was transferred over to Homeland Security Investigations.
CBP intercepted over 21,400 pounds of methamphetamine, cocaine, heroin, fentanyl, and marijuana at ports of entry along the US-Mexico border in February. Drug seizures at the US-Mexico border are down 57% from the same month in 2021.
