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In Colombia, where Frubana served over 30,000 restaurants and managed significant food purchases and waste reduction, the company plans an orderly exit, fulfilling obligations to suppliers and employees. The decision, driven by unfavorable macroeconomic conditions affecting funding, aims to focus resources on Brazil, accounting for 60% of Frubana’s revenue.
The company remains hopeful for a return within five years, viewing the exit not as a failure but as a learning opportunity that benefited farmers and restaurants alike.
Frubana has been a notable startup in Latin America, securing $277 million in funding, ranking it among the top fundraisers and leading in the agri-food sector. According to La Republica, CEO Fabián Gómez Gutiérrez reported $300 million in sales for 2022, indicating a 50% annual growth, with plans for further expansion and financial services for restaurants prior to the strategic shift.
The move reflects a reevaluation of priorities in response to economic challenges, with a commitment to maintaining positive impacts achieved in local markets.
