Category: Mercado Libre

Valoreo raises $30M more to acquire e-commerce brands across LatAm



Just over five months after securing $50 million in debt & equity, Valoreo has closed on a $30 million Series A funding round.

Mexico City-based Valoreo aims to invest in, operate and scale e-commerce brands as part of its self-described mission “to bring better products at more affordable prices” to the Latin American consumer.

Valoreo (which the company says is an extension of the Spanish word “valor,” meaning to add value), acquires merchants that operate their own brands and primarily sell on online marketplaces such as Amazon and Mercado Libre. The company targets brands that offer “category-leading products” and which it believes have “significant growth potential.” It also develops brands in-house to offer a broader selection of products to the end customer.

The startup was founded in late 2020 and has since swelled to more than 100 employees throughout Latin America. It has also since completed “multiple” acquisitions of local brands operating across a variety of industries, such as beauty, fitness and home goods.

California-based Presight Capital and Kingsway Capital out of the United Kingdom co-led the round, which also included participation from existing backers such as Kaszek, Upper90 and FJ Labs. The company declined to break down how much equity it raised in its seed round, but including debt, Valoreo has secured $80 million since inception.

It plans to use the new capital mostly to continue acquiring e-commerce brands across Mexico, Brazil and Colombia as well as to do more hiring.

Valoreo raises $30M more to acquire e-commerce brands across LatAm



Just over five months after securing $50 million in debt & equity, Valoreo has closed on a $30 million Series A funding round.

Mexico City-based Valoreo aims to invest in, operate and scale e-commerce brands as part of its self-described mission “to bring better products at more affordable prices” to the Latin American consumer.

Valoreo (which the company says is an extension of the Spanish word “valor,” meaning to add value), acquires merchants that operate their own brands and primarily sell on online marketplaces such as Amazon and Mercado Libre. The company targets brands that offer “category-leading products” and which it believes have “significant growth potential.” It also develops brands in-house to offer a broader selection of products to the end customer.

The startup was founded in late 2020 and has since swelled to more than 100 employees throughout Latin America. It has also since completed “multiple” acquisitions of local brands operating across a variety of industries, such as beauty, fitness and home goods.

California-based Presight Capital and Kingsway Capital out of the United Kingdom co-led the round, which also included participation from existing backers such as Kaszek, Upper90 and FJ Labs. The company declined to break down how much equity it raised in its seed round, but including debt, Valoreo has secured $80 million since inception.

It plans to use the new capital mostly to continue acquiring e-commerce brands across Mexico, Brazil and Colombia as well as to do more hiring.

Armed with $160M in funding, LatAm’s Merama enters the e-commerce land grab



Merama, a five-month old e-commerce startup focused on Latin America, announced today that it has raised $60 million in seed and Series A funding and $100 million in debt.

The money was raised “at well over a $200 million valuation,” according to co-founder and CEO Sujay Tyle.  

“We are receiving significant inbound for a Series B already,” he said.

LatAm firms Valor Capital and Monashees Capital and U.K.-based Balderton Capital co-led the “massively oversubscribed” funding round, which also included participation from Silicon Valley-based Triplepoint Capital and the CEOs of four unicorns in Latin America, including Uala, Loggi, Rappi and Madeira Madeira. 

Tyle, Felipe Delgado, Olivier Scialom, Renato Andrade and Guilherme Nosralla started Merama in December 2020 with a vision to be the “largest and best-selling set of brands in Latin America.” The company has dual headquarters in Mexico City and São Paulo.

Merama partners with e-commerce product sellers in Latin America by purchasing a stake in the businesses and working with their teams to help them “exponentially” grow and boost their technology while providing them with nondilutive working capital. CEO Tyle describes the company’s model as “wildly different” from that of Thras.io, Perch and other similar companies such as Valoreo because it does not aggregate dozens of brands.

“We will work with very few brands over time, and only the best, and work with our entire team to scale and expand these few businesses,” Tyle told TechCrunch. “We’re more similar to The Hut Group in the EU.”

Merama expects to (Read more...)

Argentina’s Digital House raises over $50M to help solve LatAm’s tech talent shortage



Digital House, a Buenos Aires-based edtech focused on developing tech talent through immersive remote courses, announced today it has raised more than $50 million in new funding.

Notably, two of the main investors are not venture capital firms but instead are two large tech companies: Latin American e-commerce giant Mercado Libre and San Francisco-based software developer Globant. Riverwood Capital, a Menlo Park-based private equity firm, and existing backer early-stage Argentina-based venture firm Kaszek also participated in the financing.

The raise brings Digital House’s total funding raised to more than $80 million since its 2016 inception. The Rise Fund led a $20 million Series B for Digital House in December 2017, marking the San Francisco-based firm’s investment in Latin America.

Nelson Duboscq, CEO and co-founder of Digital House, said that accelerating demand for tech talent in Latin America has fueled demand for the startup’s online courses. Since it first launched its classes in March 2016, the company has seen a 118% CAGR in revenues and a 145% CAGR in students. The 350-person company expects “and is on track” to be profitable this year, according to Duboscq.

Digital House CEO and co-founder Nelson Duboscq. Image Credits: Digital House

In 2020, 28,000 students across Latin America used its platform. The company projects that more than 43,000 will take courses via its platform in 2021. Fifty percent of its business comes out of Brazil, 30% from Argentina and the remaining 20% in the rest of (Read more...)

Nuvemshop, LatAm’s answer to Shopify, raises $90M in Accel-led Series D



The COVID-19 pandemic has led to people everywhere shopping more online and Latin America is no exception.

São Paulo-based Nuvemshop has developed an e-commerce platform that aims to allow SMBs and merchants to connect more directly with their consumers. With more people in Latin America getting used to making purchases digitally, the company has experienced a major surge in business over the past year.

Demand for Nuvemshop’s offering was already heating up prior to the pandemic. But over the past 12 months, that demand has skyrocketed as more merchants have been seeking greater control over their brands.

Rather than selling their goods on existing marketplaces (such as Mercado Libre, the Brazilian equivalent of Amazon), many merchants and entrepreneurs are opting to start and grow their own online businesses, according to Nuvemshop co-founder and CEO Santiago Sosa.

“Most merchants have entered the internet by selling on marketplaces but we are hearing from newer generations of merchants and SMBs that they don’t want to be intermediated anymore,” he said. “They want to connect more directly with consumers and convey their own brand, image and voice.”

The proof is in the numbers.

Nuvemshop has seen the number of merchants on its platform surge to nearly 80,000 across Brazil, Argentina and Mexico compared to 20,000 at the start of 2020. These businesses range from direct-to-consumer (DTC) upstarts to larger brands such as PlayMobil, Billabong and Luigi Bosca. Virtually every KPI tripled in the company in 2020 as the world saw a massive transition to online, (Read more...)