# Elenas

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

- Industry: Consumer Products
- Headquarters: Bogota, Colombia
- Website: www.elenas.co
- Total disclosed funding: $28M
- Latest round: Series B (Oct 11, 2022)
- Investors on record: 11

## About

Elenas is a Colombian company headquartered in Bogota that provides a platform for individuals to earn income online through a direct-to-consumer sales model, promoting entrepreneurship across the nation.Founded in 2019 in Bogota, Colombia, Elenas specializes in enabling users to sell products through an online platform. The company was co-founded by Thomas Harsch and Zach Oschin, with Zach Oschin currently serving as CEO. Elenas has successfully closed 4 deals, with its latest funding round being Series B, raising USD 20.00 mn from DILA Capital and other notable investors, marking a total amount raised of USD 20.00 mn.Elenas offers a unique platform that enables individuals to earn money online without the need for initial investment or inventory management. The core service is a direct-to-consumer model that allows users to sell a variety of products through an online interface, leveraging partnerships with logistic companies for nationwide distribution across Colombia. Clients can select products to sell, and they only request items once a sale is confirmed, minimizing financial risk. The customer base primarily consists of aspiring entrepreneurs, including women across Colombia who seek flexible work-from-home opportunities. This model caters to both end users who purchase the products and the sellers who operate their businesses via mobile devices.Elenas generates revenue through a commission-based structure where sellers earn profits from the sales of products listed on the platform. Transactions occur on a direct-to-consumer basis, with customers paying online or upon delivery of their selected products. The platform handles logistics and payment collection, allowing sellers to focus on marketing and customer engagement. Revenue is accrued weekly as sellers receive their earnings directly into their accounts. While specific pricing plans for products are not detailed, the model emphasizes accessibility and low barriers to entry, encouraging a broad range of individuals to participate in the marketplace. This innovative approach to social selling positions Elenas to tap into the growing demand for flexible income opportunities in emerging markets.Elenas plans to expand its offerings by launching new products aimed at enhancing the seller experience and supporting diverse entrepreneurial ventures. The company is targeting expansion into additional regions of Colombia, with a focus on rural areas by the end of 2023. The recent Series B funding of USD 20.00 mn will be utilized to facilitate these new product developments and support growth initiatives, including strengthening its logistics capabilities and enhancing marketing efforts to recruit more sellers.

## Funding rounds

- Series B, Oct 11, 2022, $20M — Broadhaven Capital Partners, Endeavor Catalyst, Mercado Libre Fund, DILA Capital, Polymath Ventures, Leo Capital, IDB Lab
- Series A, Feb 19, 2021, $6M — FJ Labs, Meesho, Alpha4 Ventures, Leo Capital
- Seed, Oct 15, 2020, $2M — Polymath Ventures, Alpha4 Ventures, Amador Holdings

## Investors

- Polymath Ventures (https://capitalatlas.ai/funds/polymath-ventures) — Seed, Series B
- Alpha4 Ventures (https://capitalatlas.ai/funds/alpha4-ventures) — Seed, Series A
- Amador Holdings (https://capitalatlas.ai/funds/amador-holdings) — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- Meesho — Series A
- Leo Capital (https://capitalatlas.ai/funds/leo-capital) — Series A, Series B
- Broadhaven Capital Partners (https://capitalatlas.ai/funds/broadhaven-capital-partners) — Series B
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series B
- Mercado Libre Fund (https://capitalatlas.ai/funds/mercado-libre-fund) — Series B
- DILA Capital (https://capitalatlas.ai/funds/dila-capital) — Series B
- IDB Lab — Series B