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After they helped more than 90,000 stores go digital during 2021, the Argentinian company Tiendanube will invest US$10 million to create and operate a new investment fund called Trendenube Capital. According to a press release, this fund will help small and medium-sized businesses in the region sell online.
The growth of e-commerce in 2021 propelled many other startups related to this industry. This explains why Tiendanube received two rounds of investment in the past twelve months; which gave them a US$3.1 billion valuation and unicorn status.
Tiendanube (known as Nuvemshop in Brazil) started almost ten years ago in Buenos Aires. Since then, it has expanded to the two largest markets in Latin America: Brazil and Mexico.
This geographic expansion, as well as the creation of the investment fund, are partly explained by the rapid digital acceleration in the region. For example, about 48% of SMEs in Mexico ventured into online sales for the first time during 2020, said the Mexican Online Sales Association (AMVO).
Tiendanube Capital will start operations in Brazil, Mexico, and Argentina in 2022. Today, they have 200 technology partners, and seek to quadruple that number in five years.
Another important plan for Tiendanube next year is attracting new talent. The company has grown its Mexican marketing team by 11x. They have partnered with organizations such as the AMVO, AIMX, Zettle and CAINTRA.
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