Tul provides locally-run hardware stores with consistent access to construction materials, inventory-management tools, invoicing services and opportunities to diversify revenue streams via a managed e-commerce marketplace. Launched in Colombia in March 2020, the company currently operates in five Colombian cities, two cities in Ecuador, and in Mexico City and Guadalajara. Tul has established supplier relationships with major construction manufacturers and brands including Gerdau, ArcelorMittal, Ternium, Sika, Wavin, Henkel, Phillips Assa Abloy, Bosch, DeWalt, Milwaukee and Cemex. The company targets more than 600,000 locally owned community hardware stores that represent roughly 50% of the region’s hardware sales, a total addressable market the company cites at $120 billion. Tul plans to use new capital to expand into Brazil and other Latin American markets and to further digitize the construction-material supply chain through fintech and other value-added services. Financially, the company announced a $181 million Series B in this round, bringing total funding to date to nearly $210 million. Tül provides a technology platform that connects construction manufacturers to the small hardware stores that handle roughly half of construction inventory in the region, digitizing an otherwise primarily analog industry. The service enables producers to communicate with stores, run promotions, and deliver products straight to jobsites. Since launching eight months ago in Colombia the company has signed up 3,000 stores and reached a $10 million revenue run rate. Tül was founded by Enrique Villamarin Lafaurie and Juan Carlos Narváez; Lafaurie spent 10 years in the construction industry at Cementos Argos. The company currently has nine employees and says it will ramp up hiring significantly with the new capital. Tül plans to expand beyond Colombia, opening operations soon in Ecuador and preparing for broader Latin American expansion.

Total raised

$185M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2022