According to Elenas, there are 11 million women selling consumer goods door-to-door and through catalogues in Latin America. That procedure is being digitalized so people can sell more readily from home.
In order to shift the conventional independent sales procedure online, founder and CEO Zach Oschin founded the Colombia-based social commerce startup in 2018 (and took part in our Latin American Startup Battlefield same year).
This is how it goes: Entrepreneurs can choose what they want to sell, how much they want to mark up the price, and then promote the products on social media platforms like Facebook and WhatsApp. The portfolio of wholesale goods includes hundreds of thousands of items in categories like beauty, personal care, home goods, and electronics.
The product procurement, shipping, and money collecting are all handled by Elenas. Over 100,000 women from Mexico and Colombia sold over 2 million orders over the previous year, bringing in millions of dollars.
Elenas raised $2 million in seed finance in 2020 and another $6 million in Series A cash in 2021 to quicken that trajectory. The business has since returned with an even larger $20 million Series B financing. This brings the company’s total investment to date to more than $28 million.
To read our blog on “How To Sell on Daraz: A complete seller guide,” click here