Tiendamia.com (“Tiendamia” or the “Company”), a rapidly growing cross-border eCommerce platform and transportech company that facilitates sales from leading global brands to customers in Latin America and other rapidly developing markets, announced today that it has received an investment from global private equity firm Cartesian Capital Group (“Cartesian”) to accelerate the Company’s expansion in Latin America and the rest of the world.
Tiendamia solves the pain points of cross-border eCommerce through proprietary technology which allows customers in Latin America to seamlessly buy from the world’s leading retailers, including Amazon and eBay. The Company has developed a state-of-the art virtual eCommerce catalog of more than a billion products, primarily from U.S. retailers, which are generally unavailable or prohibitively expensive to import into some of the world’s most dynamic eCommerce markets.
The Company’s proprietary catalog technology enables it to present and deliver the product portfolio of its retailers seamlessly and without any scalability issues, with prices in local currencies including transportation and customs duties. Tiendamia offers a one-cart solution allowing customers to purchase from numerous vendors and consolidate all orders into one package (or separate into multiple orders if requested) to take advantage of lower shipping and customs costs. The Company’s platform, with their own fulfillment, logistics, and international payments, allows hundreds of brands to reach customers worldwide providing a secure and faster way to conduct cross-border sales. Tiendamia is based in Miami, and provides these solutions to customers in Argentina, Brazil, Costa Rica, Ecuador, Peru, and Uruguay, and, with Cartesian’s investment, plans to expand to the Middle East and Africa.
Cartesian’s investment and its proven expertise facilitating the global expansion of its portfolio companies will be used to fuel Tiendamia’s profitable growth in its existing markets, develop new business verticals, and accelerate its global expansion. Additionally, Beth Michelson and Francisco Muniz Barreto, Senior Managing Director and Latin America Regional Managing Director of Cartesian, respectively, have been appointed to Tiendamia’s Board of Directors.
“Tiendamia’s access to Cartesian’s global network and capital is transformative for Tiendamia. It will allow us to consolidate and expand our already profitable operations in key Latin American markets and rapidly expand to new ones in South America and the rest of the world,” noted Juan Pablo Pereira, the CEO of the Company.
Beth Michelson added, “We are pleased to partner with the Tiendamia management team, founders, and shareholders as they solve the cross-border fulfillment conundrum that developed market eCommerce merchants face when seeking to expand their offerings outside their domestic borders. We see an enormous unmet opportunity for cross-border eCommerce in developing markets and specifically in Latin America, the fastest growing region for eCommerce in the world.”
Stifel acted as exclusive financial advisor to Tiendamia on the transaction. PAG Law acted as the legal advisors to Tiendamia on the transaction. Greenberg Traurig, LLP acted as legal advisor to Cartesian on the transaction.
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