(Press Release) Venture Partners Mexico, as lead investor and hand in hand with Capital Invest and Dila Capital, announces it achieved a syndicated round of MXN$13 million to invest in Petsy (USD$1 million as of September, 2013).
Petsy is the dominant pet care e-commerce platform in Mexico that has gained unprecedented traction by offering exceptional customer service. It entered an industry of USD$2.2 Bn by adapting successful business models in countries such as the US, Germany, Brazil, among others. The platform set forth stands out for its aesthetics, functionality and wide selection of products; all of which encourage customer engagement through the online community.
Started in Wharton’s classrooms, the online business has benefited ever since from a high involvement for the University’s professors and other strong networks. “Through this investment round, the most relevant players in the e-commerce space have joined the team. Together, we will achieve Petsy’s number one objective: to offer the best customer service in the market,” said Pablo Pedrejon, co-director of Petsy.
The company’s potential and outstanding managing team captured the interest of several investors. “Capital Invent decided to join the investment attracted by the entrepreneurs’ commitment to excellence and encouragement. Petsy has great potential in the internet and until now the execution has been flawless. We trust that it will be a part of the generation that transforms the e-commerce in Mexico,” said Heberto Taracena, Managing Director of Capital Invent MX and founder of Metros Cubicos.
The investor’s desire to acquire a stake in Petsy set the round as one of the largest syndicated seed rounds put together for a Mexican nascent company. “Petsy complements our investment in Gaudena and Viajamex by broadening the Fund’s coverage in the Mexican e-commerce industry,” said Federico Antoni, Co-Founder of Venture Partners Mexico.
Venture Partners Mexico is the pioneering Early & Venture Capital Fund investing in service innovation in Mexico. As of today, Venture Partners Mexico has made twelve investments in the mobility, financial, e-commerce and health services industries and is raising its second Fund. Venture Partners Mexico was founded and is run by Fernando Lelo de Larrea and Federico Antoni.