LatAm List – Canasta Rosa, a Mexican e-commerce platform for local handmade products, recently raised $3M in a Series A led by Elevar Equity, a firm that invests in transformative and scalable ventures with a focus on underserved customers, typically women, in low-income communities in India and Latin America.
WPSS Consumer Investments, a former Mercado Libre CM, a former P&G Marketing Director, Fitpass’ founder, and multiple angel investors also participated in this round.
Canasta Rosa aims to make e-commerce accessible to micro and small entrepreneurs by providing them access to markets and clients through a seamless marketplace.
Since launching in May 2018, the Mexican platform has had a steady organic monthly growth in buyers, sellers, and transactions.
“Canasta Rosa enables micro and small entrepreneurs, typically self-employed women whose sales are limited to the reach of their own networks. The access to e-commerce and a broad customer base allows them to boost their sales and income, and create great brands,” said Johanna Posada, cofounder of Elevar Equity. “Canasta Rosa’s value proposition to the seller includes logistics and payments integrations along with marketing and branding solutions, allowing them to seamlessly manage their business while their focus goes into creating unique products.”
The funding will be used to scale Canasta Rosa’s platform with female and micro entrepreneurs in Mexico and Latin America, as well as launch new tech solutions focusing on sales growth and consolidation.
“Women entrepreneurs in the region contribute to employment creation and the prosperity and dynamism of our economies. We are thrilled to partner with leading international and local investors to unlock the talents and passions of millions of women entrepreneurs and economically empower them,” said Deborah Dana, founder and CEO of Canasta Rosa. “40% of the sellers on Canasta Rosa did not have an income before selling on the platform; 80% of them sell from home; and about 97% are women sellers.”
Read more on this press release.
