Colombian virtual energy marketing company Bia raises $16.5M

In recent years, virtual energy marketing companies have been gaining significant traction, offering innovative solutions to address the current and future demands of the energy market. One such company making waves in this sector is Colombian-based startup, Bia.

The company is announcing a significant capital investment of $16.5 million from Kaszek, the leading venture capital firm in the region.

What Bia does is to provide innovative solutions as an alternative to traditional paper-based billing to address the evolving demands of the energy market. Its virtual energy marketing platform facilitate smart payment option for energy buying and selling, and offers real time update of energy consumption, making the process more efficient and user-friendly.

The startup with a team of 120 people currently serves over 1,500 businesses across different industries, including hospitality, banking, retail, restaurants, shopping centers, manufacturing, and consumer goods, with operational revenues exceeding $12 billion monthly.

It plans to take this to a monthly revenue of $20 billion by the end of 2023, building on existing contracts and anticipating new clients and establishing itself as one of the most important players in the Colombian energy sector in 2024.

The funds from this capital injection will be directed towards driving Bia's growth, enhancing the user experience through technology, and expanding its talent pool.