WherEX, a Santiago, Chile-based e-sourcing company, raised $7M in Series A funding.
The round was led by Kayyak Ventures with participation from FJ Labs, Jaguar Ventures and Tuesday Capital.
The company intends to use the funds to expand to LatAm and the US market.
Led by Juan Carlos Hurtado, co-founder and CEO, WherEX provides cloud based e-sourcing enterprise software which makes B2B commerce transparent and increases competition by bringing multiple qualified offers for every product or service tendered in its marketplace. The startup was born in the fishing industry and soon expanded to cover other verticals in industrials, materials and services.
In this round, WherEX incorporated two more co-founders Ben Garcia and Francisco Puente who are Y-Combinator alumni class of S20 and are serial entrepreneurs ever since graduating from MIT in 2018.
The company is growing to Mexico, Colombia, Peru with plans to enter US Market in 2022.