When Inventa sees a good opportunity to get some additional capital, it taps into it. However, as you will see, it is on a rapid growth path, and unlike other startups, new capital is paving the way for that to continue.
The Brazil-based company offers a digital marketplace to connect small and medium-sized businesses 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 and 90 day increments, to retailers. On the supplier side, they can upload products, manage pricing, and see what’s being sold and what’s not.
We first identified the Inventa Profile, co-founded by Marcos Salama, Fernando Carrasco and Laura Camargo, in January when it raised $20 million in Series A funding, led by Andreessen Horowitz and Monachi. This capital came just three months after an initial $5.5 million round.
At the time of Series A, TechCrunch’s safety CEO said Inventa was growing 100% per month. Since January, he revealed, Inventa has essentially doubled its metrics, moving from 400 brands, 7,000 products, and 20,000 stores to 800 brands, 18,000 products, and more than 40,000 stores.
It also increased its number of employees from about 100 to more than 250 people, and brought on some key executives, including the chief of data, chief of engineering, and chief product.
“We have doubled down on both the company and our engineering team; we now have about 90 people, many of whom have done it before,” Salama said. “We will maintain our strategy of helping suppliers and retailers enjoy a better life.”
Seeking to capitalize on this 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 tour and was joined by Greenoaks, Andreessen Horowitz, Monashees, Founders Fund, Tiger Global and NXTP and ONEVC, Maya, Pear VC, Avenir Growth, and A*Capital. This brings the company’s total fundraising to date to $80 million.
Inventa is currently focused on the cosmetics, health food and home décor categories, but new funding enables it to add some new customer-requested categories, including accessories, jewelry and pets. And after establishing a footprint in Brazil, the company is accelerating its international expansion to Mexico and Colombia later this year.
Salameh says much of the company’s growth is natural, driven in part by the company’s referral program where brands can recommend their customers on the site and earn $50 for each customer who makes their first purchase. Referrals are also how new suppliers are added – the retailer will recommend a resource to use, and after the resource is brought in, the resource is introduced to new retailers using Inventa.
Next, Salameh wants to bring in the Chief Credit Officer in the next six months to assemble the leadership team.
“At the end of the day, most Latin American retailers don’t have a credit card, and we’re already giving them a flexible payment option, but as we grow, there’s a lot that needs to be done there and better done,” he added. “We play an important role in providing better solutions for our stores.”
