Brazilian Unicorn MadeiraMadeira buys Argentinian IguanaFix and enters furniture assembly
RIO DE JANEIRO, BRAZIL – Curitiba-based MadeiraMadeira, a furniture and remodeling products e-commerce company, has taken another step towards becoming an ecosystem of solutions for home and decoration. The company has just announced the acquisition of IguanaFix, a home services technology platform focused on furniture assembly.
MadeiraMadeira believes that furniture assembly is still a service offered without technology and scalability, often based on the recommendation of acquaintances. The idea is to change this scenario with technology that connects customers and service providers, focusing on flexibility and quality control of the service.
Founded in 2013 in Argentina, IguanaFix, which also operates in Mexico and Brazil, brokers, schedules, and monitors general services for households. The startup has 20,000 registered professionals and provides more than 40,000 services per month.
For MadeiraMadeira, an essential point in evaluating the acquisition was that IguanaFix has developed its own technology with automated and scalable processes for planning and assessing the quality of the service, including photos.
Before the acquisition, MadeiraMadeira successfully tested the startup’s service for three months in 12 stores in São Paulo.
This is MadeiraMadeira’s second acquisition since early last year when it received a US$190 million investment and joined the select group of unicorns, as companies valued at more than US$1 billion are called.
In June 2021, it bought Itrack, a startup that develops software for tracking and routing shipments.
MadeiraMadeira is considering other acquisitions, but that’s not the focus of its growth strategy. “Our business has grown strongly, and we are gaining market share organically,” the CEO says.
The focus of the new transactions is on launching new services, introducing new technologies, or expanding operations in segments where MadeiraMadeira still has little relevance.
In 2020, the formula was to expand digital sales and open new physical stores. In 2021 the startup had announced the creation of its first own brand, CabeCasa.
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