Loads, a Chilean startup founded in September 2022 by Larry Gil, recently received a significant boost with a $2.05 million investment led by Nazca, accompanied by Canary, Alaya Capital, and a group of angel investors. This investment underscores the potential of Loads to revolutionize the food supplier network across Latin America and beyond.
Vision and Impact
The vision for Loads came from Gil’s firsthand experience in the inefficient importer business. His solution? A streamlined importer process facilitated by a technology stack that includes monitoring of year-round product availability, real-time order tracking, transparent pricing, and access to market data and financial products.
Growth and Expansion
Within just a year, Loads has shown remarkable growth, working with over 700 importers and 300 suppliers and exporting products to diverse regions including Latin America, Asia, and Europe. The company, which offers over 15 products yielding more than 70 SKUs, is on track to market 1.4 million kilograms of food monthly by early 2024. Its current gross merchandise volume exceeds $300,000 monthly, and it's rapidly approaching profitability while maintaining a 27% month-over-month growth.
Strategic Use of Investment
Gil plans to utilize the recent funding to expand Loads’ presence in current markets like Brazil, Mexico, and Argentina, and to grow its customer base in Asia, Europe, and the United States. A key focus will be on enhancing the platform’s user-friendliness and expanding its fintech capabilities through partnerships. This will not only streamline the purchasing process for suppliers but also assist clients in securing funding to fuel their growth.