LatAm List – Brands Of is an e-commerce platform for small- and medium-sized businesses in Puerto Rico with the goal of showcasing and supporting entrepreneurship on the island. The startup will reportedly use the investment to expand into the US Hispanic market and to consolidate their teams in other Latin American markets.
“This investment in Brands Of has a multiplier effect on all Puerto Rican brands that are part of the Brands of Puerto Rico family. Now, like us, they have the opportunity to accelerate their growth by exporting their products,” said co-founder and CEO of Brands Of, Nestor Guarien Taveras, in an statement for News is My Business.
The round was led by GFR Investments, owned by Group Ferre Rangel, with support from previous investor Hunt Holdings LP and angel investor Miguel Ríos. These backers looked to further support small business owners on the island through the Brands Of platform.
“To Hunt Holdings, the investment continues to validate the fact that good investments and good co-investors can arise in various geographies and prosper together where the local community supports innovation,” said Hunt Holdings consultant Beto Pallares.
Read more in News is My Business.
*Correction: This article previously linked the lead investor to GFR Fund. The link has been updated to the website of Grupo Ferre Rengel.