The Colombian startup Favik announced the extension of its pre-seed round of $1.5M, adding $2M for a total of $3.6M. The startup’s investments are backed by national and global investors. Wollef, Inverlink, Caracol, Opera, Ventura, ND Ventures, inQlab and Cacao Capital among others have invested in the company.
Favik is a startup that operates brands for influencers. The company creates partnerships with influencers to help them build their businesses. Favik takes care of the entire operation and execution, from production to product deliveries.
Favik received its first capital injection in 2021. Since then, they have had an average monthly growth rate of 30% and conversion rates of up to 10 times the average for e-commerce companies in Colombia.
With the new funds, Favik will launch a platform that will allow influencers to create and operate their brand in an agile and simple way in one place. It will also enable the company to generate profitable and scalable operations from the start:
“For months we tested methodologies and today we found a new option so that content creators don’t have to hire services one by one to create and operate their brand. With this platform, everything will be in one place,” explains Felipe Novoa, CEO at Favik.
Read more at Forbes.