LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Brazilian E-commerce Platform Cross Commerce Raises USD3m

December 20, 2021
CrossCommerce

Cross Commerce, a Brazilian e-commerce solutions platform enabling international retailers to operate in Brazilian e-commerce marketplaces, raised USD3m from Canary, ONEVC, MAYA Capital, GFC and Norte Ventures.

(Press Release) – Reaching Brazilian consumers can be a challenge for international sellers. It is not only necessary to adapt to local rules, but also to deal with bureaucracy, adapt to different customer profiles across the
country and solve logistical problems of stock and distribution in a vast territory. On the other hand,
Brazilians that want to buy products abroad also face inconveniences: in addition to long delivery times,
the consumer is subject to the changes at the daily exchange rate and credit card rates, besides the fact
that navigability in international e-commerces can be more difficult because of the language barrier.
That’s where Cross Commerce Store comes in. Founded in 2021 by João Ricardo Vieira, Eduardo Macedo
and Renato Marcelino, the company was born with the mission of integrating international sellers to
Brazilian marketplaces, significantly reducing the friction of international e-commerce, helping them
actively increase their sales, delivering faster and making life easier for sellers and buyers.


In recent years, more and more Brazilians started using e-commerce — 79.7 million consumers in 2020,
according to a survey by Ebit/Nielsen, with sales totaling over USD 15.6 billion in the period, a historical
record. However, a small fraction of this volume is of goods sold by merchants outside the country.
“Brazil is a consumer market that can be very significant for international sellers, but it is still
inaccessible due to the numerous regulatory, linguistic and cultural barriers ”, explains Vieira, cofounder and CEO of Cross Commerce. “Cross Commerce helps sellers to overcome these barriers,
integrating their offers with the main marketplaces in the country, doing international logistics, and
helping with pricing and marketing”.


With Cross Commerce, sellers only need to provide information about the products and ship orders, and
the platform does all the rest: defines the sales strategy, optimizes the goods so that they are more
attractive to the Brazilian public, manages orders and assists in customer service, in addition to taking
care of the integration with the main marketplaces in the country, such as Americanas.com (B2W),
Mercado Livre (Mercado Libre) and Amazon, which represent around 60% of the market share. Cross
Commerce receives a commission fee for every sale made and merchants subscribed to the platform
pay a monthly fee to use the service.


The company began operations in October at first with a focus on China-based sellers. “With Cross
Commerce, merchants have the ideal solution to expand their reach and the number of consumers. It
also will be easier for Brazilians to buy Chinese products, at competitive prices, in the marketplaces they
are used to shop online.”, says Vieira.


Founders have solid experience in e-commerce


Cross Commerce was founded by three entrepreneurs: Eduardo Macedo, João Ricardo Vieira and Renato
Marcelino. Macedo and Vieira met at Site Blindado, a company that was acquired by B2W, the largest ecommerce company operating in Brazil. They continued to work with B2W, where they met the third cofounder, Marcelino, who had already founded Skyhub, also bought by the company.


At B2W, Macedo was Head of Expansion at Marketplace. Later, he was Director of Digital Payments at
Stone, a payments Nasdaq traded company that has over 10% of the market-share in Brazil. Marcelino, in
turn, was Head of Marketplace’s Tech Division at B2W and Vieira, Head of Marketplace Cross Border. At
B2W, they noticed there was a great opportunity to improve the integration of international sellers with
Brazilian platforms.


In September, Cross Commerce raised its first round of investments, worth USD 3 million, led by the
venture capital firm Canary. Maya Capital, Global Founders Capital (GFC), OneVC and Norte Ventures also
participated. “Cross Commerce has founders with super interesting trajectories, who have worked for
large companies and have deep knowledge in both the payment and e-commerce sectors. In addition, it
brings a solution to a huge market, connecting international sellers to Brazilian consumers in a simple
way”, says Marcos Toledo, managing partner at Canary.


Currently, Cross Commerce has 20 employees and is helping 50 Chinese merchants to sell to Brazil. With
the investment, the company intends to invest on improving its platform, open an office in China to better
serve its merchants and expand the team to 60 employees.


About Cross Commerce Store


Cross Commerce integrates international sellers to the main Brazilian marketplaces, such as
Americanas.com, Mercado Livre and Amazon, significantly reducing the friction of international ecommerce. Founded in 2021 by João Ricardo Vieira, Eduardo Macedo and Renato Marcelino, the
company is a one-stop-shop platform that integrates merchant’s offers with marketplaces, does
international logistics and helps with pricing and marketing. In September, it raised its first round of
investments, at USD 3 mi, led by venture capital firm Canary and with participation from Maya Capital,
Global Founders Capital (GFC), OneVC and Norte Ventures.

Brazilian E-commerce Platform Cross Commerce Raises USD3m was last modified: January 11th, 2022 by cramos
CanaryCross Commercee-commerceMAYA CaptitalONEVCVenture Capital
0
Facebook Twitter Google +

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

VC Partner Events

    Tweets

    • Check out this week's top #startup deals and news on emerging tech in #LatAm from LAVCA's #LatAmVentureBulletin:… https://t.co/NOvUvkCflB

      27-Jan-2023

      Reply Retweet Favorite
    • #VC investment in #LatAm in 2022 reached USD7.5b, according to preliminary LAVCA data. Stay tuned for LAVCA’s yea… https://t.co/kAqAuL8Iq5

      23-Jan-2023

      Reply Retweet Favorite
    • January 20 is the last chance to register for "ESG in Venture and Tech Investing," the latest training in the LAVCA… https://t.co/UrbfcPgM7l

      19-Jan-2023

      Reply Retweet Favorite
    • Submissions for the 2023 LAVCA ESG Deal Awards are closing on January 20, 2023. LAVCA's ninth annual showcase will… https://t.co/AIu4FVKxT6

      11-Jan-2023

      Reply Retweet Favorite
    • Thank you for your continued support and commitment to grow private capital investment in Latin America. We look fo… https://t.co/AHA1txwyJZ

      30-Dec-2022

      Reply Retweet Favorite

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to [email protected].

    VC Industry News

    • Magma Partners Leads USD8.5m Round for Mexico’s Zenfi

      January 23, 2023
    • DILA Capital announces the final closing of its new fund, DILA IV, for USD115m

      January 17, 2023
    • Amplifica Capital Reaches USD11m Final Close for Venture Fund

      January 17, 2023
    • Framework Ventures Leads USD15m Round for Brazil’s Parfin

      January 17, 2023
    • DILA Capital Reaches USD115m Final Close for DILA IV Fund

      January 17, 2023
    • General Catalyst Leads USD10m Round for Brazil’s Genial Care

      January 13, 2023
    • Kayyak Ventures Leads USD10m Series A for Chile’s HealthAtom

      January 6, 2023
    • Kayyak Ventures Leads USD10m Series A for Chile’s HealthAtom

      January 6, 2023
    • IMPAQTO Capital Reaches First Close for USD2m Impact Fund 

      January 5, 2023
    • monashees and CapSur Capital Lead USD8m Round for Brazil’s The Coffee

      December 27, 2022
    • Brazil’s Paketá Secures BRL300m in Debt Financing from Milenio Capital

      December 14, 2022
    • Headline Leads BRL36m Round for Brazil’s Smart Break

      December 14, 2022
    • FEN Ventures and Innogen Lead USD7m Equity and Debt Seed Round for Peru’s Wynwood House

      December 14, 2022
    • Canary Leads ~USD4m Seed Round for Brazil’s Lastro

      December 14, 2022
    • Princeville Capital Leads USD70m Series D+ for Chile’s NotCo

      December 14, 2022
    • Alexia Ventures Leads USD16.5m Round for Brazil’s Seedz

      December 14, 2022
    • Gerdau Next Ventures and Inovabra Lead ~USD21m Series B for Brazil’s Docket

      December 14, 2022
    • Urban Innovation Fund Leads USD4.4m Seed Round for Mexico’s Plenna

      December 14, 2022
    • Gerdau Next Ventures and Inovabra Lead ~USD22m Series B for Brazil’s Docket

      December 7, 2022
    • Banco Santander Leads USD10m Series B for Chile’s Destacame

      December 7, 2022
    • Headline Leads ~USD7m Round for Brazil’s Smart Break 

      December 7, 2022
    • FEN Ventures and Innogen Lead USD7m Seed Round for Peru’s Wynwood House

      December 7, 2022
    • Chile’s Legria Raises USD6m From Chile Ventures, Genesis Ventures, Others

      December 7, 2022
    • Genesis Ventures, Amarena and Grupo Penta Invest USD6m in Chile’s Kredito

      December 7, 2022
    • Glisco Partners Leads USD27m Series B for Colombia’s Muncher

      November 23, 2022
    • DXA Invest and Arien Lead ~USD6m Series A+ for Brazil’s Aviation Platform Flapper

      November 23, 2022
    • Better Tomorrow Ventures and Metaprop Lead USD7.5m Round for Mexico’s Fintech Yave

      November 23, 2022
    • Lightrock Leads BRL145m Series B for Brazil’s Agrolend

      November 23, 2022
    • Mexico’s GoTrendier Raises ~USD15m Series B Led by IDB Invest, Creas Impacto and IDC Ventures

      November 22, 2022
    • Mexican Fintech Kapital Secures USD100m Debt Facility from Sivo

      November 8, 2022
    • Victory Park Capital and Industry Ventures Lead USD60m Equity and Debt Round for Mexican Fintech Mendel

      November 8, 2022
    • Mexico’s Quinio Raises USD40m in Equity and Debt Round

      November 8, 2022
    • Brazilian ERP Platform Ativy Secures ~USD24m in Venture Debt from Milenio Capital and Paramis

      November 8, 2022
    • FinTech Collective Leads USD10m Seed Round for Mexican Fintech mattilda

      November 8, 2022
    • KASZEK and DILA Capital Lead USD7.6m Round for Mexican Fintech Cicada

      November 8, 2022
    • Chan Zuckerberg Initiative Leads Series C for Brazil’s Beep Saúde

      November 8, 2022
    • Mexico’s Kukun Raises USD4.5m Round from FJ Labs, Antelo Capital and Others

      October 26, 2022
    • Colombia’s HoyTrabajas Raises USD5m Seed Round

      October 26, 2022
    • Lightspeed Leads USD5m Seed Round for Argentina’s Fidu

      October 26, 2022
    • Apollo Global Management Enters USD1.5b Financing Agreement with Brazil’s Embraer

      September 27, 2022
    • Fifth Wall Invests USD30m in Series C+ for Brazil’s Solfácil

      September 27, 2022
    • Globant Ventures invests ~USD1m in Uruguay’s Bunker DB

      September 27, 2022
    • Chromo Invest, Canary, Others Invest BRL9m in Brazil’s Civi; Canary Leads USD1.1m in Pre-seed Round for Mexico’s Bendo

      September 27, 2022
    • GSV Ventures Leads USD2m Seed Round for Peru’s uDocz 

      September 27, 2022
    • KASZEK and Y Combinator Leads USD5m Investment for Mexico’s DolarApp 

      September 27, 2022
    • Mexico’s Naya Homes Raises USD5.6m Seed Round From Carao Ventures, Clocktower Technology Ventures, Others

      September 27, 2022
    • Astella Leads BRL40m Series A for Brazil’s Amicci 

      September 27, 2022
    • Moore Capital Leads BRL40m Series A+ for Brazil’s BHub 

      September 27, 2022
    • monashees and Construct Capital Lead USD8.5m Round for Brazil’s Leoparda Electric

      September 27, 2022
    • Colombia’s RappiPay Secures USD11m Syndicated Credit Line from Bancolombia, Others

      September 27, 2022
    • Salkantay Ventures Reaches USD26m Final Close for First VC Fund

      September 27, 2022
    • Vinci Partners To Acquire Minority Stake in Brazil’s Efficopar 

      September 27, 2022
    • BTG Pactual To Acquire Brazil’s UPI Itiquira for BRL146.7m

      September 27, 2022

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Office

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top