Business

Colombian app Tül raises $4 million round led by Vine Capital Management

The startup connects hardware shops to the supply chain in a platform with more than 5,000 products available for delivery in less than 24 hours

Colombian platform Tül connects hardware shops with suppliers in a faster way
Electricity, tools, paints and finishes, gardening, floors, walls and plumbing related products are part of the catalog offered by the B2B platform Tül, focused on connecting hardware shops to the supply chain. Photo: Tül's website
  • Colombian platform Tül connects hardware shops to the supply chain in a platform with more than 5,000 products available for delivery in less than 24 hours;
  • The investment round was led by Vine Capital Management;
  • The startup is prepping to expand to five markets in the region in 2021: Central America, Brazil, Mexico, Bolivia, and Peru.

Founded in February this year, the Colombian app Tül, a platform that connects the supply chain with hardware shops, raised a new $4 million round led by Vine Capital Management.

Operating in Bogotá, Cali and Bucaramanga, in Colombia, Tül recently launched in Quito, Ecuador and is prepping to expand to five countries in the region in 2021.

“Thanks to our technology that makes logistics efficient by using algorithms, with us the hardware shop can receive, in a single order, any product requested through the app in less than 24 hours and with no freight charges,” CTO Nicolas Villegas told the Colombian newspaper La República.

Set to arrive in Medellín, Guayaquil, and Guadalajara as soon as in the first quarter of 2021, the company expects to reach sales of more than $15 million in Colombia, 10 logistics centers in the 5 main cities of the country and more than 20,000 hardware shops until the end of 2020.

“We strongly believe in our business model, we have already tested it in Colombia and today we double in sales every month. For this reason, we are sure that it will be successful in Central America and countries like Brazil, Mexico, Bolivia, and Peru, places where we will open in 12 cities next year,” says Andrés Ramírez Sánchez, international launcher at Tül.