On Wednesday, Ayenda, a Colombian low-cost hotel brand, said it had raised $8.7 million in new funding meant to finance expansion into Peru. Kaszek Ventures led the funding.

Since its launch two years ago, Ayenda has brought more than 150 hotels in Colombia up to a brand standard. The Medellin-based company offers franchisees a standardized look and set of amenities, modern software for managing guests and room inventory, and contemporary marketing techniques, such as direct bookings via its mobile booking app.

Kaszek Ventures, based in Buenos Aires, has deployed about $1 billion in capital since its founding nearly a decade ago by the entrepreneurs who built Mercado Libre, an e-commerce company with a market capitalization of about $22 billion.

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