When Inventa If you see a good opportunity to earn more capital, take it. However, as you will see, it is on a rapid growth trajectory, and unlike other startups, the new capital is to pave the way for that to continue.
This Brazil-based company provides a digital marketplace to connect SMEs with suppliers to discover and purchase new inventory. Its technology aims to provide an easier buying process for small businesses by recommending products based on actual transaction data and then providing credit, in 30-60 increments. days and 90 days, for retailers. On the vendor side, they can upload products, manage pricing, and see what’s selling and what’s not.
We first introduced Inventa, co-founded by Marcos Salama, Fernando Carrasco and Laura Camargo, in January when it raised funds. $20 million in Series A funding, led by Andreessen Horowitz and Monashees. That capital came just three months after a $5.5 million seed round.
At the time of Series A, CEO Salama told TechCrunch Inventa was growing 100% month over month. Since January, he revealed that Inventa has essentially doubled its numbers, from 400 brands, 7,000 products, and 20,000 stores to 800 brands, 18,000 products, and more than 40,000 stores.
It has also grown its headcount from about 100 to more than 250 and has attracted several key executives, including chief data officer, chief technical officer and chief product officer.
“We doubled down on both the company and our engineering team; We have about 90 people now, many of whom have done this before,” said Salama. “We will maintain our strategy of helping suppliers and retailers live better lives.”
Looking to capitalize on that growth, Inventa has now completed a $55 million Series B round – its third round in the 12 months since Inventa was founded in 2021. Greylock led the round and has the participation from Greenoaks, Andreessen Horowitz, Monashees, Founders Fund, Tiger Global, NXTP, ONEVC, MAYA, Pear VC, Avenir Growth and A* Capital. This brings the company’s total fundraising to date to $80 million.
Inventa currently focuses on cosmetics, healthy foods and home decor categories, but the new funding allows the company to add several new categories requested by customers, including accessories, jewelry and pets. And, after setting foot in Brazil, the company is accelerating its international expansion to Mexico and Colombia later this year.
Salama says much of the company’s growth has been natural, in part due to the company’s referral program, where brands can refer their customers to the site and earn $50 per guest. their first purchase. Referrals are also how new suppliers are added – a retailer will refer a supplier they use and, once the supplier is onboard, the supplier will be introduced to other vendors. New retailers using Inventa.
Next, Salama wants to give a big credit over the next six months to perfecting the leadership team.
“At the end of the day, most retailers in Latin America don’t have credit cards and we already offer them a flexible payment option, but as we grow, there’s more work to be done there and do even better,” he added. “We play an important role in providing better solutions for our stores.”
