Fairplay Closes $35 Million in Equity, Debt to Provide Revenue-Based Financing to Entrepreneurs in Latin America
By Christine Hall
Mexican revenue-based investment startup Fairplay secured $35 million in Series A funding to invest in the online marketing campaigns of direct-to-consumer e-commerce brands and marketplace sellers in Latin America.
The investment round consists of $15 million in equity, co-led by Dila Capital and Kayyak Ventures, and participation from Speedinvest and Elevar Equity, and $20 million in debt led by Architect Capital. Existing investors in the round also included QED Investors, Nazca and several individual investors, including Kavak CEO Carlos García, Jüsto CEO Ricardo Weder and ZeBrands CEO Carlos Salinas. In total, the company has raised $40 million.
Fairplay co-founder and CEO Manolo Atala started the company with Andrew Devlyn in 2019. He told TechCrunch that small business owners often have to choose between putting money into their inventory, logistics or marketing campaigns, and a wrong choice could have significant impact on the company’s growth. Those who do invest in marketing usually put a majority of their spend into channels like Google or Facebook, he added.
Photo courtesy of Danial Igdery.
Source: TechCrunch (link opens in a new window)
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