Tendenube, an e-commerce platform with more than 75 thousand active brands, announced that it closed a second round of investment in less than five months for 89 million dollars led by Accel Partners, investor in Facebook, Spotify, Dropbox, Slack, among others.
“This series ‘D’ investment round was joined by investors such as: Thorntree Capital, Qualcomm Ventures, Kaszek and Kevin Efrusy (…) We are very excited, but above all, committed to thousands of Mexican entrepreneurs. This injection of 120 million dollars in the last five months for Trendenube motivates us to continue working in favor of Mexican entrepreneurs, ”the company said in a statement.
Tíanube is a platform that seeks for every business to have its own online store, providing the necessary solutions for the development of the same as logistics, means of payments, connection with social networks, access to multiple sales channels and the tools to manage and detonate a business.
“The pandemic showed us that Latin America was ready to embrace e-commerce as a long-term service,” said Ethan Choi, Partner of the Accel fund.
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A study conducted by the Mexican Association of Online Sales (AMVO) estimates that for 19% of companies with electronic commerce, this modality will represent more than 30% of its total sales in 2021.
The investment of Tíanube aims to support Mexican SMEs to guarantee access to better technology in eCommerce and allow easy and profitable sales, said Santiago Sosa, CEO and Co-founder of the company.
“Our objective is to accompany Mexican SMEs to enhance their stories and reduce the barrier of starting from scratch, guaranteeing access to the best technology on the market. With this investment we will continue to strengthen our ecosystem of means of payment, shipping and other tools, so that buying and selling online is increasingly easy and profitable, “he explained.
The strategy to apply this capital considers 5 axes in Mexican territory; make alliances with companies dedicated to shipping and payment methods; generate more jobs; attract more companies to join.
In addition, Trendenube will launch the first eCommerce University in 2021 and will seek to grow the eCommerce of SMEs.
“With these bets on the market, we will continue to drive business growth with the mission of continuing to be the ideal alternative for any brand that seeks to digitize its business in Mexico and the region. We expect the growth of Tíanube to multiply by 20 in the next 5 years ”, added Santiago Sosa.
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