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Ecommerce startup Tul raises USD 181 mln

Tuesday 11 January 2022 10:16 CET | News

Tul, a Colombia-based ecommerce platform specialising in construction materials, raised USD 181 million in an equity funding round led by 8VC.

Avenir Growth Capital, Coatue, Tiger Global, and SoftBank Latin America Fund also participated in the round. The startup is now valued at about USD 800 million.

The capital will fund expansion in new markets such as Brazil, with the company expecting to reach a revenue run-rate of USD 450 million by the end of 2022.

Through its platform, Tul makes inventory available to small, independent hardware stores in low-income neighbourhoods comprising self-built homes and aims to make the overall process more affordable through supply chain efficiencies and scale.

The startup’s app enables store owners to buy materials, offer financing, rent out tools, generate invoices, and track orders.

Launched in 2020, the startup currently operates in Colombia, Ecuador, and Mexico. Its other investors include Monashees, Lightrock, and Foundamental.


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Keywords: ecommerce, startup, funding, expansion, supply chain finance
Categories: Payments & Commerce
Companies:
Countries: Colombia
This article is part of category

Payments & Commerce