Philippi Prietocarrizosa Ferrero DU & Uría has counselled Partners for Growth on a USD $3m loan granted to Apoyo Holdings and Apoyo Holdings Intermediate (Apoyo).
This transaction was closed on 27 February, and involved the jurisdictions of Colombia, the United States and Mexico. RAD Legal acted as Colombian counsel to the guarantors.
Apoyo is the owner and operator of Elenas, a leading social commerce platform in Latin America that has enabled tens of thousands of women in Colombia and Mexico to launch online businesses and earn additional income by selling products on social networks. Elenas offers a digital solution to start an online shop, manage customers and grow a business from home.
Hernando Padilla, lead partner of the transaction added: “This is a very important transaction because of the relevance of Elenas in the Colombian startup market. It is also rewarding to participate in a financing transaction that will help fuel the operation of a company that will certainly contribute to the empowerement of women and the economy’s reactivation.”
RAD Legal’s team included lawyers Cristhian Fresen and Carolina Hoyos.
PPU’s team consisted of partner Hernando Padilla (pictured), coordinating associate Daniela Mejía and undergraduate associate Daniel Stand.