Sindelantal.com expands into Mexico with the purchase of Miorden.com
Two e-commerce companies in the Latin World (from Spain and Mexico) are combining their efforts.. Spain’s Sindelantal.com, a portal that accepts and manages food delivery from restaurants is buying the Mexican food delivery portal Miorden.com. SinDelantal.com is a venture backed company that already has been financed with 1.3 million euros (US$ 1.7 million) in two financing rounds and is expecting to close its third round during the first quarter of 2012 by capturing an additional 1 to 1.5 million euros (US$ 1.3-2 million).
The Spanish portal has purchased the Mexican Miorden.com, which has more than 200 associated restaurants and agreements with important Mexican restaurant chains. The price of the purchase has not been disclosed.
Sindelantal.com is planning to enter into another Latin American country this year. Brazil, Argentina, Colombia and Peru are his favorites. Latin America is a very hot market and we need to take advantage now of existing opportunities.
David Ballesteros, co-founder of Sindelantal.com, tells Spanish financial daily Cinco Dias, that Mexico is a strategic market for Sindelantal.com. “It’s a market in which 50% of the restaurants deliver to private homes. E-commerce is also growing a lot in Mexico.” Eduardo Mussali, founder of Miorden.com, will continue to lead Sindelantal Mexico, the new name the firm will adopt starting this month.
In Spain, Sindelantal.com already has a team of 25 employees and is present in more than 30 cities. It manages 10,000 monthly orders and 2011 sales amounted to one million euros (US$ 1.3 million).
Current Sindelantal.com investors include Komm Investment, Vitamina K and Kibo Ventures. Ballesteros says that they are expecting to close a third financing round by the end of March. “We are looking for between 1 and 1.5 million euros to pursue two objectives: accelerate our growth in Spain and consolidate our Mexican project”, he tells Cinco Dias. According to Ballesteros the business of online food delivery orders amounts to between 500 and 800 million euros in Spain (between US$650 and US$ 1,040 million).
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