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Don't worry, we speak : Español (Spanish), too!

Morado, a Colombian startup aiming to digitize beauty salons, raises US$5 million

The two-month-old startup will use this funding to grow in Colombia and land in Mexico this year.

Don't worry, we speak : Español (Spanish), too!

Morado, a startup led by Colombian entrepreneur Ángela Acosta, announced the raising of US$5 million in a pre-seed round that included the participation of firms such as Tiger Global, H20 Capital, A16z, QED Fontes, Village Global, and Latitud, in addition to several angel investors, with Rappi’s founders among them.

Morado’s value proposition is offering to the owners of beauty salons, spas, and related establishments a Marketplace of supplies of all kinds (beauty products, uniforms, furniture) giving them credits, next-day delivery, and other digital stores’ related services.

The startup was born after diagnosing beauty professionals depended on product suppliers operating under an outdated model.

Before founding Morado, Ángela Acosta made a career at Rappi where she was in charge of the opening in Brazil and then negotiating with the brands in Mexico their integration with the company’s fintech platform. According to a Morado statement, it was in the latter process that Acosta realized the opportunities that existed in the beauty market.

The company has said it will use this financing to expand its operation in Colombia, where it already has 60 employees, and expand into Mexico, where it plans to be operational by the end of this year.

Cristóbal Fredes
Director de Contxto.

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