Recently, Mexican startup Valoreo received about $ 30 million in a Series A funding round. Valoreo plans to expand its e-commerce brands in Latin America and upscale its partnerships in Mexico, Colombia and Brazil.
This investment round involved some investors who already contributed capital to the start-up, such as Kaszek, FJ Labs and Upper90. Presight Capital of the United States and Kingsway Capital of the United Kingdom also participated.
In 2020, a group of Martin and Stefan Florea, Alexander Grüll, Cedrik Hoffmann and Miguel Oehling founded the company.
The company hopes that the new investment will contribute to a rapid acceleration of Valoreo’s growth and presence in Latin America. Valoreo sees great potential for growth in Latin America and wants to expand the number of connections they have in key markets.
According to Martin Florea, Valoreo is primarily looking for ways to continue adding people to his team. The start will increase its presence in the countries in which it currently operates and also looks at new markets.
One goal of the company is to find new brands in Latin America and acquire them directly. In many Latin American nations, access to capital is limited, so it may be easier to buy companies on favorable terms than it would be in an established market.
Florea told an interviewer,
“With this new investment, we primarily seek to continue to add people to our team of ‘superstars’, which will enable us to strengthen our presence in the countries in which we currently operate. Similarly, this investment will help us add more companies to our acquisition portfolio. ”
The company already has around 100 employees and it also wants to expand the number of employees. Given the room for growth in the Latin American markets, it should have no problem finding both talented people and large companies to acquire.