Magma Partners invests in Mexico’s professional beauty industry with Círculo de Belleza
We led a Seed round in Círculo de Belleza to support their mission to bring top-quality products to beauty professionals in Latin America.
Independent workers represent about 40% of the total workforce in Latin America. Yet, these workers have limited access to services or products that can improve their working conditions.
Founded in 2019 by Mateo Jaramillo and Stiven Rodriguez, Heru is a Mexican superapp built for gig economy workers. With Heru, independent workers can access tailored insurance policies, working capital and credit, tax-declaration products, financial guidance, cell phone data plans, as well as a rest stop called Heru Casas.
Mateo and Stiven are former employees at Uber where they helped build and grow the ridesharing app’s operation in Latin America.
“As founders, we were fortunate to be part of that first wave of companies that helped build what we know today as the tech-enabled gig-economy by helping launch Uber in the region back in 2013. Today we are proud to lead the second wave of companies who are now building products and services to serve that growing economy of independent workers,” commented the founders.
Heru has attracted more than 19,000 users to its platform and we’re excited to support Heru as it continues expanding its team and builds B2B2C partnerships with key gig-work-based platforms in Mexico.