My company has developed proprietary technology that reduces direct construction costs up to 7.4% for top builders in Colombia and Latin America. Licify provides access to 7,000 certified providers to get them more bids, and advanced analytics tools to increase their team’s efficiency.
$600 million dollars in GMV +6,000 providers + 36 of Colombia´s top home builders $15,000 dollars MRR Completed 500 Startups Growth Program in Miami
Building companies and property operators, $284 billion TAM in Latam, and their hundreds of thousands of providers.
Problem or Opportunity
Builders spend 50% of their income on procurement. 80% of their projects have significant cost overruns, 60% of the companies do not plan their purchases, and therefore $4B dollars every year are being wasted.
Solution (product or service)
Licify is a market network that connects large builders with a wide variety of curated /financially rated providers of goods and services to help them make the best purchasing processes. In our product, they can plan their procurement for each project and keep track of it vs. their budget, create, upload, negotiate and close bids, and even buy materials directly in our marketplace. We offer a 360-degree solution that saves them up to 7.4%, making the process simple, transparent, and efficient.
Building Connected in the United States, Oico in Brazil.
Advantages or differentiators
Already have the largest network of providers in Colombia, and long-term mandates with the largest construction companies. Network effect and product-market fit.
SaaS monthly subscription between $85 - $1,000 for builders, and we charge $55 per month +2.9% take rate to e-commerce in our marketplace. Transitioning to a fintech model in the long term to capture 100% of the money being exchanged in every transaction.
Market Network building a strong SaaS tool, then bringing people to use it and interact, and then owning transactions.
Money will be spent on
Hiring A-player team and marketing.
Offer for investor
SAFE $4.5MM CAP 15% discount rate, minimum ticket $50,000
Lack of digitalization in the industry Construction/housing industry poor fundamentals (not the case in Latam) Corruption in industry
Incubation/Acceleration programs accomplishment
500 Startups Miami Growth Program finalists in 2020 Endeavor Scaleup Program Colombia 2020 Bictia Sprints Program in Colombia 2020 (led to investment)
Won the competition and other awards
Winners Future of Real Estate Technology in Miami 2019 Winners Cemex Ventures startup Competition in Madrid 2018 (tied for first place) Winners Grupo Bolivar Innovation Price in Colombia 2018 Winners Smart Capital Colombia 2018