Business

Brazilian joint venture Juntos Somos Mais acquires Conecta Reforma

Juntos Somos Mais plans to invest over BRL 50 million to become the largest marketplace for civil construction services in Brazil

Antonio Serrano, CEO of Juntos Somos Mais
Antonio Serrano, CEO of Juntos Somos Mais. Photo: Press Release/ Juntos Somos Mais
  • It is the second acquisition of Juntos Somos Mais in less than six months;
  • In October it acquired Triider, startup that connects clients with professionals in the civil construction market for small and medium-sized restorations;
  • Conecta Reforma focuses on major renovations.

Brazilian joint venture Juntos Somos Mais, from one of the largest cement companies in the world Votorantim Cimentos, long steel producer Gerdau and construction materials firm Tigre announced on Thursday the acquisition of Conecta Reforma, a startup that links customers with service providers to carry out major renovations.

The second acquisition of Juntos Somos Mais in less than six months – in October it acquired the startup Triider, a general services marketplace – is part of the joint venture’s goal of transforming the renovation and construction experience. While Conecta Reforma focuses on major renovations, Triider connects clients with professionals in the civil construction market for small and medium-sized restorations.

Juntos Somos Mais claims to have the largest retail sector ecosystem in civil construction, with more than 25 construction industries and service companies and 500 thousand members, among store owners, salespeople and construction professionals.

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Through this ecosystem, store owners have access to products and services to improve sales and store management; construction professionals are able to access training as well as obtain tools that help in their professionalization. According to Juntos Somos Mais, the new investment in Conecta Reforma adds to this ecosystem by addressing a big pain point for these professionals: getting a job.

“The investment in Conecta Reforma represents another step in the plan to transform customer experience with renovations and the civil construction sector, aligning the strength of retailers and construction professionals with technology,” says Nicolas Scridelli, head of Solutions at Juntos Somos Mais.

Founded in 2019, Conecta Reforma increased its revenue by 545% in 2020 and has transacted about BRL 10 million in renovations since the beginning of its operation. The partnership with Juntos Somos Mais aims to further accelerate the company’s growth and prep for expansion across the country, increasing the operation fivefold in the next three years.

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The transaction was settled on January 28. Financial terms were not disclosed, but it is part of the joint venture’s plan to invest over BRL 50 million from its own capital in the next 2 years in order to become the largest marketplace for construction services in Brazil.

“The acquisitions and investments are part of this project that has been enhancing our ecosystem,” Antonio Serrano, CEO of Juntos Somos Mais points out. To speed up, the company expects to raise up to BRL 300 million in investments coming from private equity funds.

Currently, the company’s revenues come from the Juntos Somos Mais’ loyalty program, created in 2014 at Votorantim Cimentos, and from its virtual store, the largest B2B marketplace in the sector. With over 17 thousand registered retailers, the platform processed over BRL 7 billion and 100 thousand monthly online sales in 2020.

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