Sumer, a Colombian startup specializing in online store creation, has acquired Preki, a similar platform backed by Y Combinator. The acquisition aims to strengthen Sumer’s operations in Brazil, leveraging Preki’s existing user base.
“This purchase will allow us to accelerate our growth in Brazil, where Preki has been doing a good job,” said Joaquín Serrano, co-founder and CEO of Sumer. “We will be able to combine the knowledge that we bring from the ex-Rappi community and the knowledge they bring from the YC community.”
Sumer now extends its reach to over 800,000 online stores across 19 countries. The company offers technology solutions to help businesses increase sales and improve management through intuitive features.
Preki’s founders will serve as advisors to Sumer. Yerson Cacua, Sumer’s CTO, stated that Preki’s brand will eventually be phased out.
The acquisition comes as digital business maturity gains focus in Latin America, especially Brazil. Sumer is backed by venture capital firms such as 8VC, Marathon Ventures, Streamlined Ventures, and Susa Ventures.
Read more at Forbes
