Frontier Digital Ventures (FDV) has unveiled its updated Latin America business strategy, while also appointing new executive leaders, the company said late this week.
FDV appointed Ricardo Frechou and Guillermo Tavidian as CEO and CTO of FDV LatAm, the company’s Latin American business holding.
FDV owns real estate verticals FincaRaiz in Colombia and InfoCasas in Uruguay, Paraguay, Colombia, Bolivia and Peru, as well as horizontal Yapo.cl in Chile, and Encuentra24 in Central America.
“The introduction of a management team at the FDV LatAm holding company level is designed to unify the four operating companies and accelerate FDV’s ability to unlock the growth potential of the region”, the company said in a statement.
The structuring also aims at driving more efficiency in product and tech development and leveraging intellectual property across the organization. This includes “scaling InfoCasas’ transactional capabilities and proprietary technology platform across FDV LatAm’s other businesses, which are at an earlier stage of facilitating transactions.”
FDV has also entered into “conditional agreements” with the founders of InfoCasas and Encuentra24 as well as other key management executives at InfoCasas to “exchange a minimum proportion of their expected future cash earn-out payments for equity in FDV LatAm.”
FDV has emerged as a growing Latin America marketplace powerhouse following the acquisition of companies and stakes at companies in Latin America.
FDV’s growth also comes at a time Adevinta and OLX Group have exited several markets, while other vertical players like Navent, now part of QuintoAndar group, consolidate their businesses in countries like Mexico. — AIMGROUP