Iguama Expands Online Shopping Mall to Mexico

Cross-border shopping company, iguama announced it has expanded its online shopping mall operations into Mexico, securing a larger share of ecommerce space which now totals seven countries in Latin America. The launch allows customers in Mexico access to iguama’s online retail partners, which include Overstock.com, Target, Juicy Couture, BCBG and many more.

Founded in 2014, iguama, a cross-border shopping mall, offers savings on thousands of U.S. retail brands, while providing a secure cross-border shopping experience. All local customs, taxes and shipping are handled by iguama, removing international barriers from customers and guaranteeing delivery.

“We are very excited to expand into Mexico, which is the second largest market for e-commerce in Latin America. With an online retail growth rate of over 17% per year, Latin America is one of the fastest growing regions for online sales,” said Diego Fernandez, Co-Founder and Chief Executive Officer of iguama. “Our innovative technology and security measures allow us to guarantee a safe and secure shopping experience while providing excellent value to every customer shopping online for their favorite products.”

According to Business Insider’s Latin American E-Commerce Report, Mexico is a leader in ecommerce and has substantial potential for online retail growth, with forecasts of $11 billion in sales by 2018. Yet its challenge has been in the payments industry, with 32% of all purchases paid with cash on delivery. iguama plans to change the way customers in Mexico think about shopping with its secure online payment processing.

Recently, iguama announced a $5 million Series A financing round led by technology venture capital firms Kibo Ventures and PeopleFund to accelerate expansion of iguama into new markets.