Axon Partners made an undisclosed investment in Neumarket, a tire e-commerce platform operating in Mexico and Colombia.
(Press Release) Axon Partners Group, through the Amerigo Ventures Pacífico Fund, invested in Neumarket through an equity investment with the objective of scaling its operations in Mexico and Colombia and thus continue to consolidate its position as the reference online company within the tires industry in the Latin American region.
Neumarket (www.neumarket.com & www.neumarket.com.mx) is the largest Tire eCommerce in Colombia and Mexico, and is has positioned itself as the leader in the industry in the Latin American region. Growing annually at 103% in 2016, Neumarket aims to sell 200.000 tires in 2020.
About this transaction Alfonso de León, CEO of Axon Partners Group, commented “We are pleased to contribute to Neumarket’s development and help to boost its growth. The company groups a seasoned team with deep knowledge expertise looking to exploit an attractive niche”. This investment reaffirms Axon’s position as a leader of the digital entrepreneurship ecosystem in Latin- America, where Neumarket represents the tenth investment for its portfolio.
Juan David Gutiérrez, Founder and CEO of Neumarket, commented “Thanks to Axon’s investment, we are going to improve user experience and reach a larger audience. This will allow us to consolidate Neumarket as one of the largest ecommerce in Latin America and one of the most important players in the tire market in the countries we are in”.