Boost Capital Partners recently invested in Ximple, an innovative finance and support platform for direct sellers of consumer brands in Latin America, launching in Mexico.
Despite the region supporting over 14 million direct sellers and generating several billions in consumer product sales, direct sellers lack digitally-native tools and financial services catering to how they operate – hampering their ability to grow their businesses even as they broadly adopted smartphones and other digital consumer technologies.
We decided to join Daniel, Rodrigo, Juan Pablo and Joao in their mission to fix this problem and help them provide intuitive and easy to navigate financial services to this segment.
While a lot of progress has been made by traditional providers and neobanks in the accessibility of financial services to the broader retail segments, the specific needs of direct sellers is still unattended; direct sellers suffer from specific pain points such as: sourcing from various brands, insufficient working capital to source from brands, their buyers remain mostly unbanked and have scarce access to credit and digital payments, amongst other challenges. Ximple will deliver digital tools that will simplify direct sellers’ day-to-day operations and provide working capital to enable their business growth. To their end customers, Ximple will offer consumer loans accessible through familiar digital channels like WhatsApp, ensuring a seamless and user-friendly experience.
Fundamentally we believe that financial services should be intuitive and accessible where and how their customers desire to operate – and not the other way around. We are happy to partner with Ximple to help them deliver on their vision – stay tuned for more information on their future offerings!