🚀 Cayena's Big Leap Forward
Cayena, a Brazilian B2B marketplace for wholesale food supplies, secured a $55M Series B funding round on September 20, 2024. The round was led by Bicycle Capital, with participation from Picus Capital, FEMSA Ventures, Astella, Globo Ventures, Endeavor Catalyst, Canary, FJ Labs, Clocktower, and Norte Ventures. This investment marks a significant milestone for Cayena, which has shown impressive 5x year-over-year growth since 2021.
🌍 Expansion Across Brazil
Cayena plans to use the funds to fuel its expansion strategy across Brazil. "Cayena’s true expansion phase begins now," said Pedro Carvalho, Co-Founder of Cayena. Over the next two years, the company aims to expand its geographic reach to an additional 500 cities, establishing itself as a key player in the distribution network between consumer packaged goods, distributors, and food retailers.
📊 Growing Customer Base and Revenue
Founded in 2020, Cayena currently sells $200M annually through its platform. With the new funding, the company aims to further grow its customer base across Brazil, enhancing its offerings of next-day delivery, real-time pricing, and integrated payment solutions. These services help food businesses better manage their inventory and working capital.
💡 Key Investors Behind the Deal
Bicycle Capital, the lead investor, has shown strong confidence in Cayena’s potential to dominate the Latin American market. With backing from renowned investors like Picus Capital and FEMSA Ventures, Cayena is well-positioned to scale its operations. The participation of industry giants like Globo Ventures and Endeavor Catalyst further highlights the company's strong growth prospects.
Will Cayena become the leader in Latin America's food supply market?
