Licify
Specialized procurment management platform that generates an efficient and transparent community with developers, contractors and suppliers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | $3.4m | Seed | |
| Total Funding | 000k | ||
Licify operates as a B2B digital marketplace and financial software provider, specifically targeting the construction industry's supply chain in Latin America.
Founded in 2018 by CEO Fernando Olloqui and COO Pedro Celia, the company was established to address persistent inefficiencies in construction, where a majority of projects face delays and budget overruns. Olloqui, with a background in finance, entrepreneurship, and real estate development, paired with Celia's expertise from another facet of the construction sector, created a platform to bridge the gap between large construction companies and their suppliers.
The company's core offering is a Software-as-a-Service (SaaS) platform that digitizes and streamlines the entire procurement lifecycle for construction firms. This includes tools for procurement planning, supplier qualification and management, bidding, and negotiation. By connecting builders with a vast network of vetted suppliers and contractors, the platform enhances transparency and efficiency in purchasing materials and services. Licify serves major construction and development companies, counting industry leaders like Constructora Bolívar, Cusezar, Finsa, and Haskell among its more than 60 corporate clients in Colombia and Mexico. Its network includes over 20,000 certified suppliers across the region.
A significant component of Licify's business model is its integrated fintech solutions. Recognizing that cash flow is a major pain point for the small and medium-sized enterprises that constitute the bulk of suppliers, Licify offers financial services. Through the platform, contractors can secure project financing and get paid faster via advanced payments, which helps them manage working capital without making cash on hand a barrier to taking on new projects. This dual software and financial services approach creates a comprehensive ecosystem. Revenue is generated through a commission-based model that is transitioning towards a subscription fee structure for its software, supplemented by its financial service offerings.
Since its inception, Licify has processed thousands of contracts and facilitated billions of dollars in business between builders and their supply chains. A key milestone was a $3.4 million Seed funding round in July 2023, led by Brick & Mortar Ventures and Accion Venture Lab, aimed at expanding its operations in Colombia and Mexico and enhancing its technology.
Keywords: construction procurement, contech, proptech Latin America, supply chain management software, B2B marketplace, construction financing, digital payments, supplier management, procurement automation, fintech solutions, construction bidding, project cost control, real estate technology, SaaS, Fernando Olloqui, Pedro Celia, SME financing, construction materials marketplace, procurement analytics, builder network