LatAm Startup Mercately Attracts $2.6M Funding with Help from Techstars, Meta Program

Online communication giant WhatsApp has become the top choice for consumers in Latin American countries like Brazil and Chile to connect with brands and make purchases. However, WhatsApp lacks robust e-commerce functionality that businesses require to optimize sales. A LatAm startup called Mercately saw this gap and built software allowing brands to integrate sales directly within the popular messaging platform.

Mercately provides a backend solution for brands, integrating payment processors, customer relationship managers and AI assistants to help companies sell, communicate with customers and manage orders without users needing to switch apps. Seeing over 90% of internet users in the region utilize WhatsApp for communication and transactions, Mercately realized the opportunity was helping firms adapt to existing consumer behavior rather than trying in vain to redirect it.

Founded in 2022 by CEO Henry Remache after discovering a client in Ecuador transacted 90% of sales through WhatsApp, Mercately now supports more than 1000 merchants across 20 nations. The startup has surpassed $1.5 million annual revenue while growing 3.5 times year over year, demonstrating the demand for its offerings.

To fuel further global expansion, Mercately recently closed a $2.6 million seed round led by Inventus Capital and SVQuad. Participation from influential accelerators Techstars and Meta’s Future of Business Messaging Platform program helped open vital doors, introducing Mercately to investors understanding of WhatsApp’s cultural significance in places like India. Funds will drive hiring of AI engineers and establishment in lucrative yet nascent markets like Brazil and the United States.

By simplifying WhatsApp commerce as Shopify did for websites, Mercately aims for continued fast growth fulfilling the need for sales solutions where consumers already interact online. With communication and transactions increasingly conducted within popular platforms, the startup is well-positioned assisting businesses to meet customers wherever they connect most easily.