THE WHAT? Wonder Brands has announced that it has closed a US$20 million seed financing round. ALLVP and Mountain Nazca led, with CoVenture and Victory Park Capital joining.
THE DETAILS The Latin American digital whizzkid will use the funds to hire talent as well as develop new products and categories, expand assortment, and invest in marketing.
Nicolás Gonzalez Luna, Co-Founder of Wonder Brands said, “Half of this business is making the right acquisitions and partnerships and the other half is about excelling at operating these assets. Our seasoned team is bringing their extensive experience in venture capital, private equity, marketplaces and start-ups to the rapidly growing e-commerce market, only accelerating the possibilities for digital brands.”
The company is expected to pull in more than US$55 million in revenue by the year’s close and hit the US$100 million mark in the next year.
THE WHY? Hector Sepulveda, Managing Partner at Nazca, explains, “Federico and Nicolás bring a powerful combination of fast-paced and efficient M&A capabilities together with exceptional operational and growth expertise. We are seeing and continue to expect unprecedented growth as Wonder Brands matures.”