Lokal Raises US$700,000 to Expand Its B2B Marketplace in Chile
Lokal raises US$700,000 from Invexor to expand its B2B marketplace in Chile, develop AI tools and reach more than 100,000 small businesses.
Lokal, a Chilean B2B marketplace founded in 2022, has raised US$700,000 in a new funding round led by Discovery II, a fund managed by Invexor Venture Partners. The investment will support the company's expansion across Chile, team growth and the development of an artificial intelligence tool designed to improve how small businesses manage their purchasing.
Lokal secures funding from Invexor
Founded by Nicolás Sarquis, Alberto Morelli and Gabriel Lyon, Lokal enables small retailers to purchase products from multiple suppliers through a single platform. The company currently connects more than 500 suppliers with 3,500 businesses across approximately 260 municipalities in Chile.
The new investment came from Discovery II, the fund of Invexor Venture Partners, a firm founded in 2015 by Jorge Rodríguez and Cristián Undurraga.
Following the transaction, Lokal's founders continue to hold more than 75% of the company. The startup also became the first company from its generation at the accelerator to close a funding round.
Sarquis and Morelli previously met while working at Fpay, Falabella's fintech. They later joined forces with Lyon, who had previously developed products for startups at Platanus.
A B2B marketplace for small retailers
Lokal's platform is designed to simplify procurement for warehouses, minimarkets and pharmacies, allowing them to purchase products from different suppliers in one place.
In addition to facilitating purchases, the company offers credit alternatives to finance orders and guarantees payment to brands. This model positions Lokal within a new generation of B2B marketplaces focused on digitizing the supply process for neighborhood stores in Latin America.
The segment also includes companies such as Colombian startup Chiper.
AI to optimize purchasing decisions
With the new capital, Lokal plans to expand its current nine-person team while continuing its national expansion strategy. The company aims to reach more than 100,000 small businesses across Chile.
Part of this strategy involves developing an artificial intelligence tool that will recommend to each merchant which products to purchase, how much to order and when to restock them.
Through this technology, Lokal seeks to reduce the amount of time business owners spend managing their inventory and procurement.
“If the future of commerce is local, the best tools also have to be for them,” said Nicolás Sarquis, co-founder of Lokal.
The company is targeting a significant segment of the Latin American retail market. Neighborhood stores account for close to half of consumer sales in Latin America, although only a fraction of these transactions take place through digital channels.
Lokal's previous funding and accelerator journey
Before its latest round, Lokal participated in Platanus Ventures and raised US$100,000 in 2022.
The startup has also received backing from founders of companies including HealthAtom, Buda.com, BabyTuto and Helados San Francisco.
The new investment from Invexor now gives Lokal additional capital to accelerate its growth in Chile while continuing to develop technology around one of the most critical challenges for small retailers: determining what to buy, how much to buy and when to replenish their inventory.
A market with room for further digitalization
Lokal's growth comes as B2B marketplaces seek to modernize the way neighborhood stores across Latin America manage their supply and procurement.
With its new funding, the Chilean startup plans to combine geographic expansion with artificial intelligence, strengthening its platform for small businesses while working toward its goal of reaching more than 100,000 merchants.
