Alameda secures undisclosed investment from Grupo Bolivar as it continues building the largest furniture marketplace of Spanish Speaking Latam
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Grupo Bolivar one of the leading financial groups in Colombia and Central America, with a history of 80 years in the market, led an undisclosed investment through some of its affiliates in Alameda, the furniture marketplace operating in Mexico and Colombia.
In 2017 Alameda raised a pre-Seed round from DILA Capital and a Seed round of USD $3MM from Angel Ventures in 2019.
Alameda is the leading platform for all-things-home in Spanish speaking Latam. With a similar business model to Wayfair in the United States, the company resulted from the merger between Mubler in Colombia and Alameda in Mexico.
Back in 2015, Alameda Mexico was founded by Juan Carlos Velasquez as he was finishing his MBA at the University of Chicago Booth School of Business while at the same time Mubler Colombia was founded by the ex-Linio Juan Camilo García and Juan Felipe Uribe. Together, the so called 3 Juanes, decided to join forces in 2019 to create the Alameda brand for Latam.
Juan Carlos Velasquez, CEO: “Joining forces made strategic sense. Egos aside, it allowed us (the Juanes) to take advantage of the powerful business synergies and continue to build on our ambition to create the best furniture shopping experience in Latam.”
Through its proprietary technology, Alameda curates and brings together hundreds of furniture sellers and designers under one roof. This is complemented by a process of specialized delivery, allowing the Company to offer a differentiated experience to its thousands of customers.
During the COVID pandemic last year, the demand for home goods in Alameda increased revenue 10x in just a matter of weeks. The company seeks to take advantage of the new demand, expand its product offering and build the capabilities to deliver products in 48 hours or less.
Grupo Bolivar Director: “This new capital infusion is a strategic step for Alameda. Grupo Bolivar has traditionally been present in the housing segment and hopes to contribute its knowledge and experience trough supporting the Juanes as they further solidify the foundations of the company and propel its expansion.”