GoTrendier closes a USD $3.5 million investment round to boost growth in Mexico and Colombia
- This injection of capital will allow GoTrendier to scale in its current geographies, and open a new market in Chile
- Ataria joins existing investors IGNIA, Banco Sabadell, Antai Venture Builder, Bonsai Venture Capital and Pedralbes Partners to support GoTrendier
- With more than 1.3 million users, the platform solidifies its position as a market leader in Latin America
GoTrendier, the leading application to buy and sell fashion among women in Latin America, continues its growth strategy with a new round of financing of USD $3.5 million.
This is the second round in just over a year, which gives entry to a new shareholder, Ataria, a Peruvian fund that invests in technology companies with high potential in early stages. Existing investors Banco Sabadell and IGNIA reinforced their position, along with Antai Venture Builder, Bonsai Venture Capital, Pedralbes Partners and several business angels.
As explained by Sergio Pérez, Investment Director of Sabadell Venture Capital: “The volume of the market for buying and selling second-hand clothes in the world was 360,000 million transactions in 2017 and is expected to reach 400,000 million in 2022. For us, the combination of the huge market that GoTrendier is targeting, which today is the leading marketplace in Mexico and Colombia, and the team that leads the Company, has made us decide to accompany them in their growth to be leaders in this segment in all Spanish-speaking countries.”
The capital injection will allow the company to accelerate its growth rate in Mexico and Colombia, open in Chile, and strengthen the technical team to incorporate new features that will allow the company to scale.
This is the third round of investment in the history of the company, founded in 2016. GoTrendier is a pioneer in the category of buying and selling used clothing online among individuals in Latin America and its growth has been exponential since its launch, with more than 1.3M users. It currently has a catalog of 1.5M of garments valued at USD $47.8 million. Buying on GoTrendier, women have been able to save USD $12 million and have avoided more than 1,000 tons of CO2 emissions.
“The online retail resale business has been very successful in Brazil, the US and Europe. The recent performance of GoTrendier reaffirms the great opportunity that Latin America represents. With our investment we reiterate our commitment to the prosperous future of GoTrendier”, said Christine Kenna, partner at IGNIA.
Executive Director, Belén Cabido stated, “this investment round is important to strengthen our position in the markets in which we operate and reinforces our commitment to a more responsible way of consuming fashion”.
GoTrendier is the largest e-commerce platform in Latin America for women who buy and sell used clothes through the app via mobile phones. It is currently present in Mexico and Colombia, and has 1.3 million users, who buy in the main markets of the region and sell what is no longer used through this platform, building a new more responsible and sustainable model of consumption.
IGNIA is a venture capital fund that invests in high growth companies aimed at the emerging middle class in Mexico. Founded in 2007, IGNIA has two funds and USD 200 million in capital raised. IGNIA invests in sectors such as health, fintech, financial services, education and basic services. For more information please see: www.ignia.mx and @IGNIA_Fund.
Antai Venture Builder is a digital business group, founded by Gerard Olivé and Miguel Vicente, who has created some of the most powerful online and mobile models in Europe and Latin America. Its main objective is to create and co-found products and services that have an impact on society, changing the way people consume and interact. The mission of Antai and its projects is to disrupt traditional industries and offer new consumer solutions, leveraging new technologies. Wallapop, Cornerjob, Deliberry, Glovo or BePretty are just some examples of some businesses created from Antai.
About Bonsai Venture Capital
Spanish venture capital with 18 years of experience investing in internet with one of the strongest track records in Spain with successes such as Infojobs, Softonic, Idealista, Tuenti, Wuaki, Bodas.net, Wallapop or Glovo.
About Banco Sabadell
Banco Sabadell is currently the fourth Spanish bank, with its more than 2,500 offices and approximately 26,000 employees. Its total assets now exceed 211,000 million euros. It operates in the Spanish financial market since 1881 and is a leading franchise for companies and entrepreneurs with international activity in 20 countries.
On January 4, 2016, the Bank obtained its license to operate as a financial entity in Mexico. Since then, in terms of portfolio growth related to corporate banking and corporate loans, it has significantly exceeded its volume growth forecast. In addition, together with SabCapital, they have placed loans for more than MXN $70,300 million to companies in the main industrial zones of the country. Likewise, it already has a prominent presence in the market, with branches in more than 13 key cities, such as Mexico City, Monterrey, Guadalajara, León, Querétaro, Puebla, Mérida and Cancún, Naucalpan, Tijuana, Hermosillo, Culiacán and Chihuahua. For more information: http://www.bancosabadell.mx
Ataria Ventures offers a select group of qualified Latin American investors diversified access to technology companies with high potential in early stages of development around the world.