IMPAQTO Capital invests in Sinba
Juan Wu, Andrea Rivera, and Pipo Reiser, Co-Founders of Sinba
Photo: Karen Candiotti, Forbes Perú
Quito, February 1, 2024
IMPAQTO Capital announces an investment in Sinba, a Peruvian company that promotes a circular economy through the collection and processing of organic waste and recyclable materials. IMPAQTO Capital is investing through a revenue-based loan that complements a financing round that Sinba has raised from angel investors.
In Peru, a staggering 30,000 tons of solid waste is produced every day, with 80% of this waste being potentially reusable or recyclable. Despite this significant potential, currently, less than 2% is being reused. Sinba is a pioneer in developing sustainable solutions to reuse and recycle more solid waste, working with companies, homes and recyclers to collect, process, and reuse both organic and inorganic waste.
Sinba has been a Certified B Corporation since 2017, reflecting the commitment to social and environmental impact by the founders Pipo Reiser, Andrea Rivera, and Juan Wu.
Pipo Reiser, Co-Founder and General Manager of Sinba, commented “We are excited to be collaborating with IMPAQTO Capital to bring our business to the next level. IMPAQTO Capital is a fund that understands our needs and offers the flexibility to access an innovative financing structure that will help us grow our business in a sustainable way”.
Sinba currently has over 70 corporate clients, more than 1,500 households subscribed to its recycling services and recycles 290 tons of organic and inorganic waste per month, mitigating 310 tons of CO2e emissions. The company also sources material from recyclers, enabling them to generate additional income under a fair trade model and develop skills and knowledge to professionalize their work.
“Sinba’s innovative business model that closes the loop on reusing waste offers a unique solution in the Peruvian market, and Pipo, Andrea and Juan have built a customer base and know-how that will allow the company to grow to address the significant market opportunity for better waste management in Latin America”, said Justin Schwartz and Michelle Arevalo-Carpenter, Partners of IMPAQTO Capital.
The investment will be deployed to strengthen the company’s commercial efforts and invest in efficiency improvements in its processing plants.