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Construex co-founders Roberto Arroyo and Nicolás Arroyo.Image Credits:Construex
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Construex , an Ecuador - based software - as - a - service market place for the building and conception industries , secure $ 4.6 million in seed funding . Zacua Ventures and Fifth Wall co - led the turn and were joined by ABSeed and Terracotta Ventures .
Roberto Arroyo started the company with his brother , Nicolás Arroyo , in 2019 after working in his kinsperson ’s construction business as well as run his own living accommodations projects in Ecuador for over 15 years .
Some of those projects admit managing the procurement of material and hiring of services in lodging and apartment complex , which is where he get the idea for Construex .
“ I was hold trouble purchasing supply , and so I embark on talking to my blood brother , who has been purchasing for the construction company for a prospicient time , and we started understanding how to help other developers find a resolution , too , ” Roberto Arroyo told TechCrunch .
The Arroyos started Construex in 2019 to digitise the grammatical construction industry in Latin America , a mart Arroyo estimated to be valued at over $ 520 billion . The company is among a handful of startups addressing the supply chemical chain in this region , for example , Tülin Colombia .
The biggest job is lack of information , Arroyo said . Just 4 % of construction suppliers are tech - enabled , so there is an opportunity to connect construction intersection suppliers with customers in a way that does n’t involve calling around for supplies , he said .
Construex offers a free edition of its weapons platform and takes in revenue from transactions made on the program , as well as additional services via a subscription model .
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“ We offer a really good CRM to our suppliers , ” Arroyo say . “ There are practical reality showrooms and desegregation through WhatsApp . ”
The company has more than 80,000 register supplier tender over 700,000 products ranging from architecture to engineering to furnishings . It also has a team of 48 mass across two offices .
They bootstrapped the party for almost four years and reached profitability as it boom into Chile , Guatemala and Argentina . It has approximately 500 customers in the subscription example , and the company doubled its revenue this twelvemonth compare to 2022 , Arroyo said .
As the fellowship grew , they resolve to scale more quickly and go after venture Das Kapital to further thrive into Mexico and other Spanish - speak countries , while also adding Brazil to the pipeline .
Construex recently open an government agency in Mexico City . Arroyo has a destination of bringing 1 million suppliers onto Construex over the next few years and expects to multiply receipts by 4x in the next yr .
Meanwhile , this is ABSeed ’s first investment alfresco of Brazil , consort to Geraldo Melzer , co - founding partner of ABSeed .
“ Roberto Arroyo ’s trajectory alongside this market give him a privileged linear perspective on the real needs of this diligence , ” Melzer enunciate in a statement . “ We understand that the problems they face today are common to us . Together with Terracotta , a collaborator investment firm specialized in proptechs , we need to lend them nigher to players in our market and , with multiple hand , progress the bridge for them to come here in the nigh future . ”
Latin America ’s Q3 2023 venture results show glimmers of light
