Latin America eCommerce start-up Valoreo has raised $50 million in a seed funding round with the prospects of expansion and acquisition of brands in the region.
Many investors have joined the pursuit of scaling the e-commerce businesses, leading to one of Latin America’s biggest seed rounds. The investors included Presight Capital, FJ Labs, and Angel Ventures, as well as angel investors and emerging market funds. Founders of Valoreo had many criteria like local knowledge of the LatAm ecosystem, experience in financing high-growth companies, and e-commerce expertise while looking for investors.
Valoreo’s sophisticated infrastructure and expertise across several areas like branding, supply chain management, investing, and operations have enabled e-commerce businesses to sell and grow their businesses. The start-up targets brands that offer category-leading products and shows promising growth potential.
In a statement, Co-CEO and Co-founder Stefan Florea said that the company takes fewer than five weeks from the initial contract to the final payout with sellers. The company has different structures that consider the personal objectives of the seller, he added.
The e-commerce sector in the Latin America region has a significant growth of 37% year-over-year in 2020, making it the fastest-growing global market.