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Licify

We connect best builders and suppliers for great results

Colombia
Market: Real estate
Stage of the project: Operating business

Date of last change: 29.01.2021
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Idea

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.

Current Status

$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

Market

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.

Competitors

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.

Finance

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.

Business model

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

Team or Management

Risks

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

Photos

Photo 1 - We connect best builders and suppliers for great results
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video