Mexican Bendo receives $1.1 million in preliminary round led by Canary
Mexico-based Bendo, a mobile app that allows anyone to start a business in 5 minutes, has completed an initial $1.1 million investment round led by Canary, with participation from Seedstars, Angel Hub, and other select angel investors.
Bendo is a marketplace that decentralizes the catalog sales market. Through a mobile application, social commerce allows anyone to sell products online by providing free inventory, logistics, and technology.
“Canary’s investment will enable us to move forward at a faster pace in 2022. We will remain focused on our operations in Mexico as we lay the foundation and chart a path for international expansion, with our goal being to reach millions of Latin Americans.”
Agustín García, Co-Founder and CEO of Bendo.
Bendo was founded in 2021 by Agustín García and Miguel Navarro (both formerly at DiDi), to provide solutions for people who have always wanted to run their own business. With their experience in the self-employment economy, the entrepreneurs have created a digital catalog sales model that anyone can use at no cost. All that is required to start selling products is a mobile phone and an internet connection.
“From our first conversations, we were impressed by Agustín and Miguel’s skills and ambition to build a related company. We believe Bendo has the potential to change the game for millions of Latin Americans by providing them with the opportunity to increase their income.”
Marcus Toledo, Managing Partner of Canary.
Bendo will use the capital to expand its reach across Mexico, aiming to reach 500,000 people and spread the business model across Latin America.