Meru.com, a Mexico City-based platform that connects manufacturers to the supply chain, has raised $ 15 million in Series A funding.
As TechCrunch reported on Thursday (December 2), the company said it plans to use the funds to become a one-stop-shop for its small business clients, eventually becoming “Latin America’s Alibaba.”
âWe started working remotely in China and learned that among global transactions, the same pain points are occurring in emerging markets,â Manuel Rodriguez Dao, co-founder and CEO of Meru, told the newspaper.
âWe want to secure sourcing and sourcing through technology-based distribution, similar to Alibaba, so we connect parties across the supply chain and allow them access at discounted prices. “
Read more: International Trade Center and Alibaba team to support MSMEs
Alibaba announced last month that it is working with the International Trade Center on an initiative to help micro, small and medium enterprises (MSMEs) boost international exports and sustainability.
The âGlobal Digital Business Accelerator for MSMEs in Developing Countriesâ initiative is designed to help MSMEs make better use of the opportunities of the e-commerce platform.
In a video conference speech, Alibaba CEO Daniel Zhang said many of these companies have been looking for digital ways to do business and improve their business models.
Rodriguez Dao says traditional procurement methods can cost small businesses up to two days a week, often going through five middlemen, with an average of 80% of transactions resulting in fraud.
Meru, meanwhile, says his customers can choose and purchase products in minutes, with the company ensuring reception at the best prices on the market.
Rodriguez Dao and co-founder Federico Moscato developed Meru after seeing the difficulties in sourcing products while working for another company.
Last year, they joined Eduardo Mata, Virgile Fiszman and Daniel Ferreyra to start Meru to help small businesses avoid these problems. The company now has more than 10,000 registered users, employing 210 people in China and Mexico.