MEXICO CITY, Aug. 12, 2021 /PRNewswire/ -- Wonder Brands, the company building Latin America's best portfolio of digital brands, announced today that the company has closed $20 million in Seed financing. ALLVP, and Mountain Nazca led 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 said, "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."
"The support we've received will allow us to establish even more long-term partnerships with leading marketplace operators," said Federico Antoni, Partner at ALLVP. "We are proud to empower existing entrepreneurs in the e-commerce space during this time of complexity and opportunity."
The 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.
"Federico and Nicolás bring a powerful combination of fast-paced and efficient M&A capabilities together with exceptional operational and growth expertise," saidHector Sepulveda, Managing Partner at Nazca. "We are seeing and continue to expect unprecedented growth as Wonder Brands matures."
"Wonder Brands is harnessing innovation, technology, and capital to scale in the rapidly evolving LatAm e-commerce market," saidMichael Breitstein, Principal at CoVenture, "Federico and Nicolás have the perfect skillset and expertise to execute the strategy, and we are proud to partner with them."
"The e-commerce opportunity in Latin America is massive and is at the early innings of continued growth," said Don Richman, Principal at Victory Park Capital. "We look forward to our partnership with Wonder Brands as the company brings value to the region's best digital brands."
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.
About Wonder Brands Wonder Brands is a Latin American startup specialized in partnering with successful digital brands to boost their growth. The implementation of its strategy is achieved by injecting into associated companies a significant investment to exponentially increase working capital, marketing, and equipment, as well as providing added value in the areas of technology, digital marketing, supply chain and administration. For more information, visit https://wonderbrands.co/
About ALLVP ALLVP is a leading VC investment fund in Spanish-speaking Latin America. Founded in 2012, the firm manages more than $200 million in 3 funds. ALLVP invests in teams that are looking to transform the daily lives of people in Latin America, impacting the way they buy, move, interact with the financial system and learn. The ALLVP team has invested in 36 companies, including Cornershop the supermarket marketplace, Robinfood the region's largest cloud-restaurant company, Flink a Mexican financial services platform that has already surpassed one million users and Nuvocargo a technology startup that is transforming the logistics sector starting with the U.S.-Mexico route. For more information, visit https://www.allvp.vc.
About CoVenture CoVenture is an asset management firm investing across the capital stack of tech-enabled companies, often providing the first institutional equity and/or debt financing to business operations across financial services, new forms of media, platform economies or industries we are yet to imagine. For more information visit https://coventure.vc/.
About Nazca Based in Mexico City, Nazca (formerly Mountain Nazca) is a venture capital firm focused on providing revolutionary empowerment to founders in Latin America. Nazca was founded in 2013 and has been an early backer of several relevant Latin American companies such as Kavak, Crehana, Jüsto, Albo, Ben & Frank, Meru and Vest, among others. For more information https://www.nazca.vc.