Investment

Brazilian B2B e-commerce startup Gaveteiro raises US$3.9M round

In a story originally reported in E-Commerce News and brought to our attention by LAVCA, Brazilian B2B e-commerce startup, Gaveteiro, recently raised R$15M (US$3.9M) to expand and consolidate their business. The startup focuses on selling materials that help companies with their MRO (Maintenance, Repair, and Operations).

Alberto Hauser, shareholder in Mexican steel distributor Grupo ABX, along with Valiant Capital, Thomasnet.com, and Battery Road Digital Holdings. This investment helped Gaveteiro reach a total of R$35M (US$9M) over the past six years.

Gaveteiro is using the round to change headquarters, create a new logistics operation, enter into publishing, and create a new B2B marketplace. The new headquarters will be able to process over 150,000 items per day, with the goal of reaching turnover of R$1B in the next five years.

Gaveteiro also purchased NEI, a successful industry magazine that posts quarterly updates on industrial products and has over 60,000 subscribers across the country.

Founders Joshua Kempf (USA) and Benedikt Voller (Germany) both left prestigious jobs at Goldman Sachs and Groupon, respectively, to found the company six years ago. The company plans to close 2018 with over R$60M in revenue, up 30% from 2017.

Read more in the original article on LAVCA.

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