Back in May, MercadoLibre and Wayra announced an alliance to support Argentine startups by way of both funding and mentoring. Likewise, MercadoLibre launched a 10-million-dollar investment fund. The company revealed that financing will go to endeavors that capitalize the potential of the MercadoLibre API, preferably early-stage projects.
And now, the first deals are starting to be closed. Daniel Ravinovich, CTO of MercadoLibre, announced the entity’s first three investments, each of which has been made for the amount of US$100,000 and in conjunction with Wayra. He remarked:
For the MercadoLibre team, these investments mark a big milestone in the process of opening up our platform. We hope that these are the first of many. It’s impossible not to thank Andrés Saborido and the entire Wayra team for their excellent work in the selection and evaluation of projects.
Together, MercadoLibre and Wayra considered over 1,000 candidates, eventually choosing three:
- Mr Presta: Offering financing to MercadoLibre sellers, Mr Presta utilizes the API as a credit score base. The company analyzes the user’s sales history, estimating his or her cash flow and, in turn, capacity for repayment. A single integration evaluates the solvency of hundreds of thousands of sellers in the region, both current and future. Mr Presta operates with a business model similar to that of Kabbage.com, obtaining funds from passive investors, managing the portfolio and, in turn, earning a commission. Founded by Cesar Manduca and Carlos Rosso.
- Nubi Metrics: With a focus on e-commerce, Nubi Metrics is a business intelligence and analytics platform based in the cloud. MercadoLibre sellers can access a dashboard with business insights and decision-making tools in just one click, drilling down to the smallest details. Nubi Metrics also integrates information from social networks and Google Analytics to provide users with a unified visualization. The business model used is the classic freemium. Sellers can access a free package with basic functionalities as well as professional packages starting at US$100 per month. Founded by Andrés Jara Werchau and Pamela Schreurer.
- Parsimotion: A cloud-based ERP focused on supply chain. With a minimum integration, MercadoLibre sellers can manage inventory, orders and costs in order to optimize operations. The value of Parsimotion is palpable, given that many small businesses administrate these issues in very rudimentary ways. What’s more, the prices offered are much more affordable than other traditional ERPs. A 90-day free trial is available as well. Founded by Pablo Altamira and Andrés Kirschbaum.