Chilean startup Merama, dedicated to strengthening brand e-commerce, has acquired Latin American startups Miind Brands and Culotte, which will be added to a portfolio of more than 20 brands. The transaction amounts were not disclosed.
Co-founded by Chileans Domingo Cruzat and Manuel José León, Merama was born in 2020, and today is based in Mexico and Brazil. In October 2021, the startup closed a $225 million Series B round.
Merama partners with e-commerce businesses across Latin America in several categories to accelerate growth and profit by investing millions of dollars in working capital, so the founders retain ownership. Then, Merama helps with the expansion of the brands in the region and improve their sales.
In this case, Merama is joined by the startups Culotte and Miind Brands. The former is a Chile-based company dedicated to the online sale of menstruation products; while Miind Brands is a brand of food supplements, with presence in e-commerce platforms such as Mercado Libre and Amazon.
“Joining forces with Merama allows us to realize this vision together with an incredible team of ecommerce, marketing and logistics experts,” said Nathalie Wilk, CEO and founder of Culotte Chile, in a statement. “It has opened up the opportunity for us to make all of our dreams come true and become the most impactful menstruation brand.”
Jaime Martinez, CEO and co-founder of Miind Brands, said that “the most important thing in making the decision to merge with Merama was the feeling of sharing a vision with the founders about how to reinvent together the way we make the new digital native brands of the 21st century.”
To date, the company has stakes in around 25 brands and operates in Mexico, Brazil, Chile, Peru, Colombia and the United States.
