Mexico-based Bendo, a mobile app that allows anyone to start a business in 5 minutes, closed a $1.1 million pre-seed investment round led by Canary, with participation from Seedstars, Angel Hub, and other selected angel investors.
Bendo is a marketplace that decentralizes the catalog sales market. With a mobile app, the social commerce enables anyone to sell products online by providing free inventory, logistics, and technology.
“Canary’s investment will enable us to move forward at a faster pace in 2022. We will remain focused on our operations in Mexico while we lay the groundwork and chart a course for international expansion, as our goal is to reach millions of Latin Americans”Agustín García, Bendo’s co-founder and CEO.
Bendo was founded in 2021 by Agustín García and Miguel Navarro (both ex-DiDi), to offer solutions to people who have always wanted to run their own business. With their gig-economy experience, the entrepreneurs created a digital catalog sales model that anyone can use without cost. All that is required to begin selling products is a cell phone and an internet connection.
“From our first conversations, we were impressed with Agustín and Miguel’s skills and ambition to build a relevant company. We believe Bendo has the potential to change the game for millions of Latin Americans by providing them with the opportunity to increase their income.”Canary’s managing partner, Marcos Toledo.
Bendo will use the capital to expand its reach throughout Mexico, with the goal to reach 500,000 people and spread the business model throughout Latin America.