It connects importers and exporters, just as Amazon Business or Alibaba do in other latitudes.
The number of exporting SMEs in the country fell from 12,000 since before the pandemic to 7,500 this year. As a consequence of the crisis, even though it would be useful for many small and medium-sized companies to expand their markets so as not to be exposed only to the rhythm of domestic consumption, the costs associated with selling abroad plus ignorance in many cases appear as a barrier input.
With this in mind, the former COO of Despegar.com, Gastón Reemeerie, decided to create the first marketplace in the region that operated as a “showcase” of the products that can be sold to the world. “The platform that comes to cover is something that seems unbelievable that it does not exist in Latin America and that it does exist in other regions, where today one seeks to import products from Asia, one finds platforms like Alibaba, with more than 20 years, super installed; with Amazon Business in Europe,” he explained.
In addition to the fact that there are few exporting SMEs in the region, the executive found another peculiarity: 40% of these only make one international sale per year. “It’s a very inefficient system,” he said.
Latindyl’s commitment “is to bring together all the products from Latin America, so that the exportable force of the entire region appears in a single place,” according to Reemeerie, who also pointed out that the Covid pandemic in 2020 accelerated the digitization of the processes of the different customs of the region. “Startups began to appear that made this information available globally and based on that data we built this platform.”
Through artificial intelligence, SMEs that operate with this platform contact their potential buyers in the rest of the world. For the founder of this company, there are two main barriers that discourage small and medium-sized entrepreneurs from selling to international markets: the lack of knowledge regarding foreign trade and little financing.
“Today, many SMEs have an exportable product, it is a product that seduces potential buyers from other countries, but they do not access the international market due to lack of knowledge. They say that do not have a customs broker or foreign trade office Because it’s not something they usually do. For this type of SMEs, we created an “all-inclusive” service that does the end-to-end operation,” explained the executive.
To rectify the demand for financing, the firm sealed an alliance with Banco Galicia that offers advice and credit to SMEs that operate from this platform, whether or not they are clients of the entity.
“We understand that this option can be a dynamizer of the Argentine economy, help SMEs to export, to open new markets. We are talking about small to medium-sized SMEs, who are involved in their daily business and cannot go out to see what is happening in the world,” said David Gentile, manager of indirect channels at the bank.