Cross-Border Online Shopping Club iguama Partners with Banco Promerica in Guatemala

MIAMI, Oct. 27, 2016 /PRNewswire/ -- Today iguama and Banco Promerica announced they have entered into a joint agreement that makes iguama the exclusive U.S. Cross-Border Online shopping club for all Promerica customers in Guatemala. As a iguama member, Promerica customers receive competitive prices when shopping from popular U.S. brands, exclusive deals, promotions and free international shipping on select products.

iguama is a membership based cross-border online shopping mall that provides consumers in Chile, Colombia, Costa Rica, El Salvador, Guatemala and Panama access to U.S. retail brands not typically available for purchase in Latin America. Founded in 2014, the company is the first e-commerce cross-border online club in Latin America where members receive competitive pricing on popular U.S. merchandise, free shipping and savings on cross-border transactions. All international paperwork, taxes and shipping are handled by iguama, giving customers an easy and seamless shopping experience, just as they would at a local shopping mall.

After 24 years of growing, Promerica Group has become one of the largest banks in Central America, with operations in Dominican Republic, Ecuador, Panama, Costa Rica, Nicaragua, El Salvador, Honduras and Guatemala. Banco Promerica in Guatemala is a bank that maintains steady growth, leadership, service innovation and benefits for its customers.

"We are excited to announce this relationship with Banco Promerica which will give to its customers in Guatemala direct access to deals and promotions in the United States and, in many cases, without the cost of international shipping. From browsing to purchasing, customers shopping on iguama will never have to worry about additional expenses when importing from the U.S.; pricing is total and guaranteed," said Diego Fernandez, Co-Founder and Chief Executive Officer of iguama. "We are honored to be working with Banco Promerica and their loyal customers."

"Banco Promerica of Guatemala is proud to partner with iguama and offer our customers the opportunity to experience a new way of shopping while helping them be financially responsible", said Edgar Bran, Banco Promerica's Guatemala CEO. "The discounts on U.S. retail brands offered through iguama are unique in the marketplace, and we believe that waiving the iguama subscription fee is a great way to provide our customers a valuable service while managing their money wisely."

About iguama

Established in 2014, iguama is the first and only e-commerce cross-border shopping club that allows Latin Americans to buy top quality brands from U.S. stores at affordable prices. The company's core business model markets club memberships and does not profit on the products it sells or on international costs associated with each transaction, making it very simple for U.S. stores to sell products in Latin America. All of the complexity in cross-border transactions is handled by iguama, which includes: local marketing, customer service, total in-country calculation of price, efficient logistics and payment acceptance. Based in Miami, iguama is backed by venture capital firm PeopleFund. Visit www.iguama.com for more information.

About PeopleFund

PeopleFund is a global pioneer in value added investments focused on technology, internet and media. They are uniquely positioned to add significant value to companies by leveraging their in-house management and technology expertise. The investment approach allows them to partner and invest in early through growth venture investments, private equity and public companies. By partnering with management and entrepreneurs, PeopleFund has generated industry leading returns for all their investors. For more information please visit: www.peoplefund.com

About Banco Promerica of Guatemala

Banking network Promerica is a leading group with a wide range of banking and commercial services, focused on areas of consumer banking, private banking, corporate banking and electronic payment methods for different customer segments. For more information, visit www.bancopromerica.com.gt.

SOURCE iguama