Inventa poised to enter Mexico, Colombia with its supplier marketplace

It takes a good opportunity to grab some extra capital. It is on a trajectory of fast growth, and the new capital is to pave the way for that to continue.

Small and medium-sized companies can connect with suppliers on the digital marketplace. It aims to provide an easier purchasing process for small businesses by suggesting products based on actual transaction data and then providing credit in 30-, 60- and 90-day periods to retailers. On the supplier side, they can upload products, manage pricing and see what is selling and what isn't.

We first profiled Inventa in January, when it raised $20 million in Series A financing, led by Andreessen Horowitz and Monashees. The capital had come three months after the seed round.

a16z, Monashees lead new round into inventory discovery startup Inventa

At the time of the Series A, CEO Salama said that Inventa was growing 100% month over month. He said that since January, the company doubled its metrics, going from 400 brands, 7,000 products and 20,000 stores to 800 brands, 18,000 products and more than 40,000 stores.

It brought on some key executives, including a head of data, head of engineering and head of product.

We doubled down on the company and our engineering team, and we now have around 90 people who have done this before.

The Series B round of $55 million was the third in a year for Inventa. Greylock led the round and was joined by a number of other companies. The company has raised $80 million so far.

The new funding will allow Inventa to add some new categories that customers have been asking for, including accessories, jewelry and pets. After establishing a footprint in Brazil, the company is going to accelerate its international expansion.

The company's growth is organic and driven by the company's referral program where brands can recommend their customers to the site and earn $50 for every customer that makes their first purchase. When a supplier is brought on board, the supplier is introduced to new retailers using Inventa, because a retailer will recommend a supplier to them.

In the next six months, Salama wants to add a head of credit to the leadership team.

At the end of the day, most retailers in Latin America don't have a credit card, and we are already giving them a flexible payment option, but as we grow, there is a lot more to be done there and done better.

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