LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

ALLVP Invests in FormaFina to Expand Reach to Mexico

May 25, 2015

(Press Release) FormaFina is a cross-border curated marketplace for premium fashion and home accessories for Latin American consumers. Founded in 2010, FormaFina has operations in Brazil and Colombia and it is now launching its office to reach the Mexican market.

The company found an unattended market. Since it started operations, it has become a means for Latin-American consumers to access aspirational premium products that cannot be found locally, through an online platform that solves the importation, shipping and processes costs. For US-based brands, the company has a valuable proposition as an efficient means of reaching unattended markets due to a lack of organizational bandwidth or access to cross-border distributors or retailers. The cross-dock/cross-border combination allows FormaFina to be clearly differentiated from classic e-commerce or flash sales competitors, who generally offer locally-available products or focus on prices. In its recent years of operations, it has reported a strong traction. As of February 2015, the company had reached nearly half a million registered users.

The company has captivated a wide array of investors’ interest. Recently, it closed a $3.5 million dollar round of funding by rapidly adhering 500 Startups, NXTP Labs and South Ventures strengthening its ties to Silicon Valley. “Along with a strong base of angel investors, we have been fortunate to secure the main Venture Capital funds in each of the countries we operate in. RedPoint and Velum Ventures’ have been key to the expansion of the company in Brazil and Colombia. Now, ALLVP adds up as our strategic partner in Mexico”, mentioned Nima Pourshasb, Founder and CEO of FormaFina Global.

In Mexico, the premium e-commerce market shows promising trends with a reported growth of 20% between 2012 and 2013, while the housewares and home furnishing segment has reported a strong a constant rate of 33.7% between 2008 and 2013. The total market averaged US$ 9.2bn in 2013 (+38% vs 2012) and is expected to reach an estimated US$ 13bn. Additionally, the Mexican e-consumer habits show favorable trends with over half of its e-consumers’ shopping going to overseas websites. Cross-border ecommerce has traditionally been developed by close integration with the US and NAFTA agreement, and by tourism, which is a strong driver for ecommerce adoption in Mexico. In 2013, while the North American e-commerce market grew 13.7%, Latin American, was the fastest growing region with more than 36.3% compared to 2012.

“Nima Pourshasb has demonstrated to have extensive start-up experience with ample expertise on monetization and e-commerce optimization. Also, we have built a fruitful team and trust that FormaFina’s proposition will be well managed and will become a highly scalable global platform”, mentioned Federico Antoni, Managing Partner of ALLVP.

ALLVP Invests in FormaFina to Expand Reach to Mexico was last modified: July 22nd, 2016 by Editor
BrazilColombiae-commerceFashionFormaFinaMexico
0
Facebook Twitter Google +

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

Tweets

  • Nicolás Szekasy https://t.co/kMv2IUnfbA

    11-Aug-2022

    Reply Retweet Favorite
  • #LAVCAWeek2022 is taking place in person Oct. 11-14 in NYC! Speakers include: Tania Sztamfater Chocolat (… https://t.co/uNg10qSqwx

    09-Aug-2022

    Reply Retweet Favorite
  • Today's top takeaways from the #LatAmVentureBulletin: https://t.co/JY9CRvO0hW https://t.co/KUabMLOT2U

    05-Aug-2022

    Reply Retweet Favorite
  • Leading VCs and tech investors active in Brazil are invited to join LAVCA's #EncontroAnualBrasil. Program highlight… https://t.co/9vWiCTnyuh

    05-Aug-2022

    Reply Retweet Favorite
  • Registration for #LAVCAWeek2022 is now open for all qualified institutional investors LAVCA Members and non-members… https://t.co/iiv4YQSuUc

    03-Aug-2022

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Office

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10018

Explore LAVCA.org

  • About LAVCA
  • Board, Team, & Advisors
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2020 - LAVCA. All Rights Reserved.


Back To Top