Business

Led by former B2W execs, Cross Commerce Store taps BRL 16.8 million Seed round with only three months

Startup connects cross-border sellers to domestic marketplaces to ease the sale of imported goods; Canary led the round

Led by veterans from B2W, Cross Commerce Store taps BRL 16.8 million Seed round with only three months
Eduardo Macedo and João Ricardo Vieira, co-founders at Cross Commerce Store. Photo: Tiago Queiroz
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The boom enjoyed by e-commerce in Brazil over the past two years has led the country’s main marketplaces to begin including international sellers on their shelves so that Brazilian buyers have easier access to products from other countries. Aware of this trend, João Ricardo Vieira, Eduardo Macedo, and Renato Marcelino saw an opportunity and founded Cross Commerce Store, a startup that offers solutions to integrate international sellers with local marketplaces such as Mercado Libre, Americanas, and Amazon, which hold around 60% of the national market share. 

A few months into operation, the startup raised its first investment, a BRL 16.8 million Seed round led by venture capital firm Canary and followed by Maya Capital, Global Founders Capital (GFC), OneVC, and Norte Ventures. The capital will be invested in hiring new talents and in opening an office in China, the startup‘s main market – Cross Commerce Store currently serves more than 30 Chinese sellers who offer their products on Brazilian marketplaces.

READ ALSO: Latin American e-commerce to skyrocket 37% in 2021, shows EBANX’s Beyond Borders 2021/2022 study

The startup offers a complete solution for sellers from other countries, who only need to ship orders. Everything else – from sales strategy, including offers customization according to the Brazilian buyer’s profile, to order management – is handled by the platform. The startup gets a commission on each sale made and the merchants registered on the platform pay a monthly fee for using the service.

Vieira, Cross Commerce Store’s CEO, explains that although the number of Brazilians buying online has increased significantly in recent years, a small part of the goods is bought from other countries.

Brazil has great potential for international sellers, but it is still not a very accessible market. It is a pulverized market with several large local and international marketplaces, plus the many regulatory, language, and cultural barriers,” explains Vieira. “The Cross Commerce Store helps sellers providing a platform to handle all the international logistics and with pricing and marketing.”

READ ALSO: Mercado Libre leads the charge as e-commerce blooms in Latin America: Beyond Borders 2021/2022 study

The trio who founded Cross Commerce has years of experience in the e-commerce industry, which was a key factor for Canary, the VC who led the startup‘s first round. Vieira, Macedo, and Marcelino worked together at B2W (now Americanas SA after the Americanas.com and B2W merger), working directly with e-commerce and marketplace areas.

“Cross Commerce Store has founders with very interesting backgrounds, who have worked in large companies and know the payments and e-commerce sectors very well. In addition, it brings a solution to a huge market,” said Marcos Toledo, managing partner of Canary.

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