The Colombian startup Tul has obtained a credit line from Bancolombia for $7.7M. Tul is a B2B e-commerce platform for hardware and construction products.
Tul allows hardware stores and businesses in the construction industry to buy everything they need in one place. In less than three years, Tul expanded to Mexico and Brazil, and has delivered more than half a million orders.
The startup closed in January 2022 an $181M Series B round that was led by the U.S.-based fund 8VC. In order to make this loan, Bancolombia considered the weight of Tul’s model in Colombia’s economy, its long-term projection, and scalability:
“These are factors that speak to us of the role that this company plays in promoting the strengthening of the Colombian productive fabric, which clearly speaks to our purpose of promoting sustainable development to achieve the welfare of all, this time in a context of accompanying the needs of enterprises with a proven high impact,” said Cristina Arrastía, Vice President of Business at Bancolombia.
