Dear reader,
Last Thursday, we published the first RO Long Read. In it, RO writer James Mahon explores the links between Japanese capital and the African startup scene. Part I is out here, and part II & III will be released in the upcoming weeks.
Today’s article is an exclusive interview with Francisco Puente, co-founder of Chilean startup Wherex.
Wherex specializes in B2B e-commerce. While less “visible” than your classic B2C e-commerce platforms, the sector drives gargantuan transaction volumes. Wherex sequentially built products for LATAM B2B e-commerce, starting from simply digitizing the procurement process to now offering financing products to its customers.
Wherex claims to coordinate over $2B in annual transaction volume.
In this 3,000+ word interview, we cover Francisco’s personal maturing as a founder, why Wherex started in a small fishing town, how AI is imbricated into its products, why its different revenue streams are complementary, and what sales processes look like when selling to LATAM’s largest companies.
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Biography
Francisco Puente is the co-founder of Wherex, a Chilean B2B procurement marketplace. Wherex coordinates over $2B in annual transaction volume.
Through Wherex, companies can request custom quotes from suppliers, access industry-specific procurement data, pay suppliers, get financing, and more. Wherex is used by 150 companies, and hosts 70,000 suppliers.
The company raised a $7M Series A back in 2021, topped by another $7M round in 2022.
Prior to Wherex, Francisco worked in Mexican private equity, real estate, and launched a YC-backed startup (Viya). He holds an MBA from MIT.
You were a “late” co-founder to Wherex. How did you incorporate the team?