(Press Release) Temasek led a US$16m Series B investment in Latin American on-demand home improvement marketplace IguanaFix. The investment round also includes participation from Qualcomm Ventures, Endeavor Catalyst, and existing investors led by the founders of Riverwood Capital.
Leading on-demand service provider and home improvement marketplace IguanaFix announced today its latest round of US$16m in Series B venture funding led by Temasek, the global Singaporean investment company. The transaction is part of Temasek’s early-stage innovation investment strategy in Latin America, and IguanaFix’s second round of funding to support the exponential growth of its on-demand home improvement marketplace in Argentina, Mexico and Brazil. The investment round also includes participation from Qualcomm Ventures, the investment arm of Qualcomm Incorporated, Endeavor Catalyst,
and existing investors led by the founders of Riverwood Capital. It will bring the on-demand
startup’s total funding to US$20m.
“We are incredibly excited to continue growing IguanaFix with the support of Temasek and Qualcomm Ventures. We are tapping into a multi-billion dollar market, helping service providers grow their small businesses and enter the formal market,” said Matias Recchia, Co-founder and CEO of IguanaFix.
“We are committed to changing the way in which people hire services and transact in Latin America, and the new funding will help us continue our geographic expansion and strengthen our technology team overall. We are committed to providing a superior solution to our customers, who trust us everyday for their home improvement and car repair needs.”
IguanaFix allows users to access qualified home improvement professionals on its platform and schedule appointments on demand at pre-determined market prices. In under two years, the startup has experienced 30% growth month on month, and has amassed over 20,000 service providers on the platform. The growth has been driven by a three-sided marketplace, consisting of service providers, consumers and large retailer and consumer brands in the region, including LG Electronics.