Wonder Brands, a Mexico City, Mexico-based company building a portfolio of digital brands, raised $20m 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.
The company intends to use the funds to hire 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 financing will complement larger debt facilities that the company has available to acquire the brands per se.
Led by Nicolás Gonzalez Luna, Co-Founder, 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 charge operations and accelerate sales though including marketing, analytics, supply chain management, and optimized working capital. The company is focused on the categories of Home and Garden, Sports and Fitness, and Beauty and Personal Care.
The company is currently operating in Mexico and plans to begin operations in Brazil by the end of 2021. It is projected to overcome $55m in revenue by the end of 2021 and $100m in the next 12 months.
FinSMEs
13/08/2021