# Avenida

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/avenida

- Industry: Internet
- Headquarters: Buenos Aires, Argentina
- Website: www.avenida.com.ar
- Total disclosed funding: $33M
- Latest round: Series C (Nov 20, 2015)
- Investors on record: 5

## About

Avenida specializes in creating and managing tailored online marketplaces for financial institutions, offering comprehensive solutions that enhance customer engagement and operational efficiency.Founded in 2013 and headquartered in Buenos Aires, Argentina, Avenida focuses on developing custom marketplace solutions primarily for financial institutions. The company has undergone business strategy pivots to enhance its service offerings. Notably, Avenida raised USD 30.00 mn in Series C funding in November 2015, led by Naspers Limited, with participation from Tiger Global Management. The firm has completed a total of 4 significant deals, establishing a strong foothold in the market. The current CEOs are Daniel Jejcic and Ralph Van Kollenburg.Avenida offers avenida+, a fully integrated, white-label multi-store, multi-seller e-commerce platform that includes embedded finance, insurtech, catalog management, payments, and logistics. This solution allows financial institutions to streamline operations and improve customer experiences, focusing on both B2B and B2C clients across Latin America. Their client portfolio includes major banks such as Banco Nación, Banco Macro, and Banco Ciudad, along with various retail partners.Avenida generates revenue through a combination of subscription fees, partnership agreements, and transaction-based models. Their marketplace solutions enable financial institutions to monetize services via embedded finance features, facilitating product sales through a wide network of sellers and buyers. The company's marketplace management services provide essential strategic and operational support, enhancing the value proposition for financial institutions and fostering customer loyalty.Avenida plans to leverage the recent funding of USD 30.00 mn raised in November 2015 to expand its product offerings and enhance its marketplace technology. The company is focusing on launching new features aimed at improving user experience and facilitating transactions. Additionally, Avenida is exploring opportunities to expand into other Latin American markets by 2025, aiming to replicate its success in Argentina. The recent funding will support these initiatives, positioning Avenida for future growth.

## Funding rounds

- Series C, Nov 20, 2015, $30M — Tiger Global Management, Naspers Limited
- Series A, Dec 9, 2013, $3M — Richmond Global Ventures, CAP Ventures, Quasar

## Investors

- Richmond Global Ventures (https://capitalatlas.ai/funds/richmond-global-ventures) — Series A
- CAP Ventures — Series A
- Quasar (https://capitalatlas.ai/funds/quasar) — Series A
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series C
- Naspers Limited — Series C