LatamList- Valoreo, an acquirer of e-commerce businesses, raised a $50M seed funding round in equity and debt funding. Upper90, FJ Labs, Angel Ventures, Presight Capital, and various angel investors took part in the round.
Valoreo is the next-generation consumer conglomerate in Latin America. The startup aims to open up the e-commerce market through acquiring e-commerce brands and investing, operating, and scaling these platforms. The startup is one of the first of its kind in Latin America, following in the steps of similar startups in Europe and the United States.
“We were substantially oversubscribed and were, therefore, able to select investors that not only provide capital, but also additional know-how in key areas,” said Alex Gruell, co-founder of Valoreo.
The round is one of the highest seed funding rounds raised by a Latin American startup.
Read more on TechCrunch.