Latin American startup Wonder Brands closes $20m seed round for expansion

Latin American startup Wonder Brands closes $20m seed round for expansion

Published: 13-08-2021 14:09:00 | By: Pie Kamau | hits: 749 | Tags:

Wonder Brands, the company building Latin America's best portfolio of digital brands, closed $20 million in seed financing, led by ALLVP and Mountain Nazca with CoVenture and Victory Park Capital joining to close the round inclusive of GFC, QED (Fontes), Korify Capital, and Endeavor Catalyst. In its growth stage, the company now has backing from over 35 angel investors and eight venture capital firms across the U.S., Latin America, and Europe.

Wonder Brands seeks to optimize digital brands in the Mercado Libre and Amazon ecosystem in Latin America and identifies under-optimized businesses, leveraging technology to supercharge operations and accelerate sales though including marketing, analytics, supply chain management, and optimized working capital. Focused on the categories of Home and Garden, Sports and Fitness, and Beauty and Personal Care, Wonder Brands is harnessing the growing e-commerce market in Latin America, which is experiencing a fundamental online transformation.

Nicolás Gonzalez Luna, Co-founder of Wonder Brands: "Half of this business is making the right acquisitions & partnerships and the other half is about excelling at operating these assets. Our seasoned team is bringing their extensive experience in venture capital, private equity, marketplaces and startups to the rapidly growing e-commerce market, only accelerating the possibilities for digital brands."

Federico Antoni, Partner, ALLVP: "The support we've received will allow us to establish even more long-term partnerships with leading marketplace operators. We are proud to empower existing entrepreneurs in the e-commerce space during this time of complexity and opportunity."

This Seed financing will allow Wonder Brands to hire top talent in category management, data analytics, and technology, along with expand assortment, develop new products and categories, and invest in marketing to enhance positioning of the company's brands in the Mexican market. The Seed financing will complement larger debt facilities that the company has available to acquire the brands per se.

Hector Sepulveda, Managing Partner, Nazca: "Federico and Nicolás bring a powerful combination of fast-paced and efficient M&A capabilities together with exceptional operational and growth expertise. We are seeing and continue to expect unprecedented growth as Wonder Brands matures."

 

Wonder Brands is projected to surpass $55 million in revenue by the end of 2021 and $100 million in the next 12 months. The company is currently operating in Mexico and plans to begin operations in Brazil by the end of 2021.

www.wonderbrands.co