Frubana Funding, Investors & Competitors

Frubana has raised $271M across 7 funding rounds, most recently a Series C in December 2022.

Last Frubana funding round

Series C

Amount undisclosed · Dec 2022

Cumulative funding Frubana raised

$271M

across 7 funding rounds

Key investors in Frubana

  • MONASHEES
  • Tiger Global
  • SoftBank Group
  • GGV Capital
  • Citius
  • Y Combinator
  • Lightspeed Venture Partners
  • FJ Labs

Frubana Overview

About Frubana

Frubana is a business-to-business platform that supplied fresh produce, groceries and restaurant supplies to independent restaurants and small retailers in Latin America. It was founded in 2018 in Bogota by Fabian Gomez, a Rappi alumnus, and went through the Y Combinator programme. The company bought directly from farmers, aggregated products in regional distribution centres and delivered them using routing software, selling through a marketplace and its own purchases. It operated in Colombia, Mexico and Brazil and raised about USD 271 million from investors including GGV Capital, Monashees, SoftBank, Tiger Global, Lightspeed and DST Global, according to press reports. Brazil represented about 60 percent of revenue when the company announced in February 2024 that it would suspend operations in Colombia and Mexico. Frubana then closed its last active market, Brazil, in August 2025.


Founded

2018

HQ

ColombiaBogotá

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Frubana Funding History

Frubana has raised a total of $271M across 7 funding rounds.

Frubana's first fundraising round was a $2M pre-seed round in June 2018. The most recent completed round was a Series C in December 2022.

Frubana funding rounds

Frubana funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2022Series CChimera Investment (lead)-Chimera Investment, an Abu Dhabi-based investor, took part in a further Series C financing of Frubana in December 2022, according to the company's public funding profile. The amount was not disclosed. It followed the USD 75 million Series C backed by DST Global earlier in 2022. Frubana is a business-to-business platform founded in 2018 and based in Bogota that sources fresh produce and groceries from farmers and suppliers and delivers them to restaurants and small retailers in Colombia, Mexico and Brazil. The company had raised its earlier rounds from GGV, Lightspeed, SoftBank, Tiger Global and Monashees, and later suspended its operations in Colombia and Mexico in February 2024 before ending activity in Brazil in 2025.
Jun 2022Series CDST Global (lead)$75MFrubana raised a USD 75 million Series C in mid-2022 with DST Global as investor. The company was founded in 2018 in Bogota and had by then raised its earlier rounds from GGV, Lightspeed, SoftBank, Tiger Global and Monashees. Frubana is a business-to-business platform that buys fresh produce and groceries from farmers and suppliers and delivers to restaurants and small retailers in Colombia, Mexico and Brazil. Brazil later became its largest market, representing about 60 percent of revenue, and the company suspended operations in Colombia and Mexico in February 2024 before ceasing activity in Brazil in 2025. The Series C funded the expansion of its distribution network and product range across the region.
Nov 2021Series CDST Global (lead); Opera Ventures; SoftBank Group; Lightspeed Venture Partners; Citius; Tiger Global; GGV Capital; MONASHEES$94MFrubana is an e-commerce platform providing a one-stop shop for restaurant procurement, offering CPG, produce, proteins, staples, and supplies across Latin America, operating in Colombia, Brazil, and Mexico. The company integrates procurement to deliver better prices, data, and quality, targeting the $100B+ restaurant industry supply chain with over 2 million potential users. In 2020 and Q1 2021, Frubana achieved 6x user growth despite pandemic challenges closing ~70% of restaurants, tripled sales, and expanded product categories while building a tech hub in Bogotá. Earlier Series B in June 2021 raised $65M led by GGV Capital with Tiger Global, SoftBank, Monashees, and Lightspeed. Frubana raised total ~$289M-$330M over 10-11 rounds by 2024, including Series C-II $63.31M (7/7/2022), Series D $30.07M (5/24/2024), and a 2025 dead round. Competitive context includes SoftBank/Tiger-backed LatAm logistics peers like Olist (unicorn 2021) and Merama.
Jun 2021Series BGGV Capital (lead); SoftBank Group; Lightspeed Venture Partners; Citius; Tiger Global; MONASHEES$65MFrubana raised a USD 65 million Series B in June 2021, led by Hans Tung of GGV Capital with participation from existing investors Tiger Global Management, SoftBank and Monashees and new investor Lightspeed. The round took total capital raised to USD 102 million. Frubana said it had grown active customers sixfold and tripled sales over the previous year, and positioned itself as the everything store for the restaurant industry in Latin America. The company buys directly from farmers, aggregates produce in regional distribution centres and delivers to restaurants and small retailers using routing software. It was founded in 2018 by Fabian Gomez and operated in Colombia, Mexico and Brazil. The proceeds were to be used to improve its data and technology and to broaden the product range beyond fresh produce.
Apr 2020Series AMONASHEES (lead); GGV Capital (lead); SoftBank Group; FJ Labs; Citius; Tiger Global$25MFrubana closed a USD 25 million Series A in April 2020, led by GGV and Monashees with participation from Tiger Global and SoftBank, according to the company's announcement as reported by Contxto. The round came at the start of the pandemic and followed USD 12 million raised in 2019. Frubana, founded in 2018 by Rappi alumnus Fabian Gomez, is a Colombian business-to-business platform that buys fresh produce from farmers and supplies restaurants and small retailers in Colombia, Mexico and Brazil. LAVCA later noted that the company's revenue grew sixfold in 2020. The Series A funded expansion in its existing markets and the technology behind its demand forecasting and logistics, ahead of a USD 65 million Series B in 2021.
Apr 2019SeedMONASHEES (lead); Y Combinator (lead); Pear VC; FJ Labs$10MFrubana raised a USD 10 million seed round in 2019 backed by Y Combinator and Monashees, with FJ Labs and Pear VC also on the cap table and several undisclosed investors. The round followed a USD 2 million pre-seed the year before, and the founder told ImpactAlpha that the investment firm Kairos, named in some earlier coverage as a seed investor, was not one. Frubana is a Colombian platform founded in 2018 by Fabian Gomez, a former Rappi expansion leader, that buys produce directly from farmers, aggregates it in distribution centres and delivers it to restaurants and small retailers. It was operating in Colombia with estimated annual sales of about USD 6 million and was preparing to enter Mexico and Brazil. The seed money was meant to finance that regional expansion and the build-out of its supply chain and routing technology. Frubana later raised a USD 25 million Series A in 2020 led by GGV and Monashees.
Jun 2018Pre-seedY Combinator; Saurabh Gupta; MAGIC Fund; B2 Founders; GE32 Capital; MONASHEES$2MFrubana raised a USD 2 million pre-seed round from Monashees, Y Combinator, Kairos and GE32 Capital, as reported by LAVCA in June 2019. The financing backed a Colombian business-to-business platform that buys fruit, vegetables and other produce directly from farmers and sells it to restaurants and small retailers. The company was founded in 2018 in Bogota by Fabian Gomez, a Rappi alumnus, and went through the Y Combinator programme. The pre-seed was followed by a USD 10 million seed round led by Kairos, bringing the funding raised in 2019 to USD 12 million. At the time the company was operating in Colombia with an estimated USD 6 million in annual sales and was preparing to expand into Mexico and Brazil. The capital funded the logistics and technology needed to extend the model beyond its first market.

Who has invested in Frubana?

16 investors have backed Frubana across its funding rounds, including MONASHEES, Tiger Global, SoftBank Group, GGV Capital, Citius and Y Combinator.

Lead investors include Chimera Investment, DST Global, GGV Capital, MONASHEES and Y Combinator.


Frubana Investors

Investors in Frubana by funding rounds participated
InvestorHQRoundsRoleFirst check
MONASHEESBrazilSão Paulo5LeadJun 2018
SoftBank GroupJapanTokyo3ParticipantApr 2020
CitiusLuxembourgLuxembourg3ParticipantApr 2020
Tiger GlobalUnited StatesNew York City, NY3ParticipantApr 2020
GGV CapitalUnited StatesSan Francisco, CA3LeadApr 2020
Y CombinatorUnited StatesSan Francisco, CA2LeadJun 2018
FJ LabsUnited StatesNew York City, NY2ParticipantApr 2019
Lightspeed Venture PartnersUnited StatesSan Francisco, CA2ParticipantJun 2021
DST GlobalCayman IslandsGeorge Town2LeadNov 2021
Opera VenturesColombiaBogotá1ParticipantNov 2021
Pear VCUnited StatesSan Francisco, CA1ParticipantApr 2019
Saurabh GuptaUnited StatesUnited States1ParticipantJun 2018
MAGIC FundUnited StatesUnited States1ParticipantJun 2018

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Frubana Competitors

Frubana competitors include listed companies like Izumi Co, Copart and RB Global, and private ones like Faire, OfBusiness and PaleBlueDot AI.

Public and private companies comparable to Frubana
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Izumi CoJapanJapanPublicly listed$3.6B$295M$1.2B0.6x
CopartUnited StatesUnited StatesPublicly listed$4.7B$1.9B$30B5.3x
RB GlobalUnited StatesUnited StatesPublicly listed$4.6B$1.4B$17B4.4x
FaireUnited StatesSan Francisco, CAPrivate$500M-$5.2B10.4x
OfBusinessIndiaGurgaonPrivate$2.3B-$4B1.9x
PaleBlueDot AIUnited StatesPalo AltoPrivate--$3.2B-

Frubana Public Comps

Frubana is still privately-owned, but its public comps include Recruit Holdings, Uber, Booking Holdings, Airbnb, Prosus, Carvana, DoorDash, Meituan, Rocket Companies and Zomato.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Recruit Holdings$23B$3.9B6.2x5.7x36.9x23.2x
Uber$52B$6.2B2.9x2.6x23.9x13.5x
Booking Holdings$27B$8.3B4.6x4.4x15.0x11.7x
Airbnb$12B$2.4B8.3x7.2x41.7x20.1x
Prosus$9.7B$1.1B9.3x7.9x85.4x116.7x
Carvana$20B($110M)4.2x3.0x(768.0x)29.7x
DoorDash$14B$1.5B5.5x4.4x51.3x21.1x
Meituan$55B($2.2B)1.0x0.9x(24.0x)59.3x

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Common questions about Frubana

When was Frubana founded?Frubana was founded in 2018.
Where is Frubana headquartered?Frubana is headquartered in Bogotá, Colombia.
Is Frubana publicly listed?No, Frubana is a private, VC-backed company.
How much funding has Frubana raised?Frubana has raised $271M across 7 funding rounds.
What was Frubana's last funding round?Frubana's last funding round was a Series C in December 2022, led by Chimera Investment.
Who are Frubana's investors?Frubana's investors include MONASHEES, SoftBank Group, Citius, Tiger Global, GGV Capital, Y Combinator, FJ Labs, Lightspeed Venture Partners, DST Global, Opera Ventures and 6 others.
Which companies are comparable to Frubana?Companies comparable to Frubana include Izumi Co, Copart, RB Global, Faire, OfBusiness and PaleBlueDot AI.

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