Moneda Moves (116): The Journey Beyond Raising One Million Dollars | Agua Bonita CEO Kayla Castañeda
¿Que tal, mi gente? Lately, we’ve been thinking a lot about fundraising for companies. Because as we discuss the rise of new Latinx entrepreneurs, this kind of capital you can secure as a founder is just as important. It’s what helps a company scale and grow. But attaining this kind of capital and raising more than $1 million has not historically been a straightforward journey for entrepreneurs of color, and even less so for Latinas.
So in this week’s podcast episode of Moneda Moves, we are sharing a story to help shed some light on the process and how the pandemic thrust former startup employees into the world of entrepreneurship. This is the story of Agua Bonita’s Co-Founder and CEO Kayla Castañeda, who broke fundraising records in 2021 while selling canned aguas frescas, a delicious fruit-derived drink popular in Mexico and Central America.
Both she and her co-founder, Erin PonTell, arrived at entrepreneurship experienced in the beverage industry but also out without jobs after their employer startup closed mid-pandemic. As they so wittingly shared with Bustle: “We joke a lot — when life gives you lemons, make aguas frescas.”
Castañeda became one of two Latina co-founders who raised $2 million in an oversubscribed pre-seed round for their company. This happened just a year out from founding it and also made Castañeda the first Afro-Latina owned beverage brand to raise this amount.
Among the investors? Supply Change Capital, whose founder Noramay Cadena we interviewed in just our last episode of Moneda Moves. (And we suggest you listen to it!)
Our hope is that Agua Bonita is an example, but not the exception, to help many other Latina founders raise the capital needed to grow their business. If you’re keeping up with Latinx leaders in VC, let us know who else you would like to hear from on Moneda Moves, too.
Con poder,
Lyanne
Headlines to put on your radar.
The 2021 State of Latino Entrepreneurship Report has now dropped. We’ll cover findings in the next week. In the meantime, you can find it here.
Rising voices in business, fintech, entrepreneurship and beyond.
There’s plenty to learn from our guest at Agua Bonita on the Moneda Moves podcast this week. That’s why we’ve made co-founders Kayla Castañeda & Erin PonTell the potentes of the week. Learn more from them below:
Agua Bonita raises $2 million in pre-seed round | Food Business News
Inside The First-Ever Latina-Run Beverage Startup To Raise $1 Million | Bustle
Meet the Entrepreneurs Making Delicious Canned Agua Fresca | Thrillist
Thank you for joining us! Until next week, catch us here on Moneda Moves.