Author: Josefina Dominguez

Magma Partners Invests in Chilean PropTech Houm

Houm is a platform for property owners to advertise their properties through an online marketplace. Potential tenants can book a virtual tour of a property through the platform, and after deciding on a place, can sign a lease without the need of a co-signer. The proptech also uses AI algorithms to recommend an optimal rent value to owners for their properties. 

Houm was founded by Benjamin Labra and Nicolas Knockaert in September 2018 in Chile. Magma Partners recently participated in a round with Fen Ventures and Fondo Alerce where Houm raised $1.3M.

The startup plans to expand further into the Chilean market, hire additional staff, and improve the platform’s technology with the most recent round of funding.

Magma Partners Invests in Insurtech Seguros Arca

Seguros Arca is a leading insurtech platform from Mexico City that allows users to find, compare, purchase, and manage insurance policies online. Magma Partners recently invested along with Leap Global Partners and Grupo Peña Verde.

Arca users only need their vehicle brand name, model, and their postal code to get a quote in less than 30 seconds. Consumers can compare quotes from different insurance companies without registering and without having to call a live agent.

The company was founded in 2013 by Juan Gironella and his two sons Juanma and Javier Gironella

“We’re excited to support Seguros Arca on their mission to help the uninsured with their digital solutions. We believe the founders, who have extensive experience in the industry, will transform the insurance market in Mexico, and eventually, in Latin America in general,” said Nathan Lustig, Managing Partner at Magma Partners.

Seguros Arca is bringing the digital revolution to the insurance sector with its solutions that use technology to help streamline access to insurance.

Magma Partners doubles down on Mexican startups with Rampa Ventures acquisition

After many years of working with their team, we are excited to announce that we are joining forces with the Guadalajara-based accelerator Rampa!

We hope that through this acquisition we will establish Guadalajara as a beachhead to both invest in Mexican startups, as well as to help other startups from the region and the US open operations in Mexico, making Latin America’s second-largest market a key part of our investment thesis.

Over the years, Guadalajara has become an important hub for tech companies, churning out some of the most talented engineers in the region. Its proximity to Silicon Valley and high concentration of engineering talent makes it an ideal base for deepening our roots in Mexico, where we’ve invested in 12 Mexican startups including Albo and Moons

By combining operations, Mak Gutierrez, Rampa’s founder, will join our team as CEO of Magma Infrastructure. He will run our a16z-inspired internal agency designed to support our portfolio of over 75 Latin American startups to generate sales, create partnerships, and scale more quickly.

“I’m excited to double down on both Guadalajara and our Infrastructure team,” said Nathan Lustig, Managing Partner at Magma Partners. He added, “Under Mak’s leadership, I’m confident our Infrastructure team will be able to help make our portfolio companies more successful.”

Guadalajara team at an after office with our Managing Partner Nathan Lustig

Rampa’s Alexa Clark Ibarra, will also join our GP team as an analyst, leveraging her experience recruiting startups to Rampa’s accelerator programs.

“I love supporting early-stage startups. It’s been my passion for 15 years. By joining Magma Infrastructure, I get to lead a team that’s supporting startups and building the ecosystem not just in Guadalajara, but across the region,” said Gutierrez.

As a result of the acquisition, our team has grown and its 15 members are now distributed across Guadalajara, Mexico City, Bogota, Santiago, Buenos Aires, and the US.

We look forward to working with our Guadalajara office to help startups from both South America and the US accelerate their expansion into the Mexican market!

Magma Partners Invests in Treble.ai

Treble.ai is a customer support platform that lets companies get feedback from users through SMS and WhatsApp using automated conversations that are redirected to a customer support agent when needed.

Treble.ai was built for mobile-first, chat-based communication. The platform was founded in Colombia in January 2019 by Sebastian Valencia and Felipe Otalora

Magma Partners recently invested in Treble.ai after the startup participated in the Summer 2019 cohort at Y Combinator.

Treble.ai currently operates in Colombia and has logistics unicorn Rappi as one of their largest customers.

Moons joins Magma Partners’ Fund II Portfolio

Moons is a Mexican startup that specializes in affordable orthodontics. It aims to be the Invisalign of Latin America with invisible aligners that straighten and whiten patients’ teeth in an average of 6 months. Patients can go to a Moons Studio to see a licensed orthodontist, and Moons sends custom clear aligners to their homes at an accessible price. 

Tommaso Tomba was already familiar with the Mexican market from his previous work in e-commerce Linio when he created Moons in December 2018, along with Leonardo Miron.

Magma Partners made a Pre-Seed investment in Moons before the startup joined Y Combinator’s latest cohort. Moons chose to apply to the prestigious accelerator to raise capital and open doors in the US for future expansions.

Moons plans to go into other healthcare verticals besides the dental market, and currently offers its services in Mexico, Colombia, and soon, throughout Latin America.

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