Our Investment in SUMER
By Misha Gordon-Rowe, Principal at Susa Ventures
We’re excited to announce our investment in SUMER, a Bogota-based startup building a super app for micro SMBs to grow their businesses across Latin America. We co-led the round, investing alongside 8VC, Marathon Ventures and others. And we’re excited to welcome Joaquín, Yerson, Oscar and their team to the Susa Family.
Over the past couple of years, we’ve been investing heavily in Latin American fintech and e-commerce, with a focus on companies serving SMBs and micro-SMBs. Ecommerce retail is growing faster in Latin America than anywhere else in the world — up 37% in 2020 alone — and is expected to double again from 2021 to 2025. Mobile commerce, which already represents roughly 50% of online retail sales in the region, is growing faster than anywhere else in the world.
While the e-commerce market is exploding, micro merchants underserved by tech are being left behind: 90% of the workforce is in micro SMBs, but they only produce 30% of regional GDP. We believe SUMER is going to bridge this gap.
SUMER simplifies the process for small businesses to create and manage an online store, enabling them to easily sell digitally, from their phone. With a SUMER store, merchants can display products, run ads, manage customers, offer delivery services, accept payment, do bookkeeping and manage cash flow.
Within just a few months of launch, SUMER has become one of the highest-rated apps in both the Play Store and App Store in many LatAm countries, and SUMER is now the main source of revenue for thousands of merchants.
Joaquín, Yerson and Oscar were all on the founding team at Rappi, where they built and scaled the biggest food delivery and commerce platform in the region. They’re veteran business builders and engineers on a mission — and they’re amazing guys — and we think the tools they’re building will unlock massive growth opportunities for micro merchants across LatAm. If you want to be part of that journey, check out SUMER’s open jobs here. Vamos!