EXCLUSIVE: Shop Latinx Raises $1 Million
Shop Latinx has closed its pre-seed round of funding, raising $1 million.
Launched by Brittany Chavez in 2016, the Los Angeles-based e-commerce platform offers goods created by Latinx founders and creators across beauty, fashion and home. Investors include Precursor Ventures, Backstage Capital, Debut Capital, 2PM, Humble Ventures, Hispanics in Philanthropy, Silicon Hills Capital and Techstars.
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“I feel so blessed and thrilled to have successfully raised VC funding,” Chavez, of Guatemalan and Nicaraguan descent, told WWD in an exclusive statement. “It’s been a journey getting to this point, especially as a Latina solo founder, but I am proud of the work my team and I have put into the growth of Shop Latinx. Team Shop Latinx is committed to providing our community a shopping experience like never before that truly lives at the intersection of culture and commerce.”
Chavez created Shop Latinx as an Instagram account before launching at shoplatinx.com. The site now has 100,000 engaged users, showcasing more than 600 products from 30 brands (the likes of bath and body brand Nopalera and footwear label MCLC). Business has seen recent growth, according to the company, with a 226 percent sales increase from the second quarter to the third quarter this year.
“With this raise, I plan on hiring the support we need to increase the velocity of brands we onboard onto the marketplace, as well as ensuring both brands and consumers continue to feel seen, celebrated and supported through our marketing efforts,” continued Chavez, who manages a team of four full-time employees. “These efforts include more IRL activations, exclusive products, brand partnerships and editorial content. I’m excited to work alongside a range of experts from diverse backgrounds that will help take Shop Latinx to higher levels. This is truly just the beginning, as Shop Latinx is a company that will go public.“
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