Our thesis and insights
Why We Invested: nocnoc
March 22nd - 2022
The rate of growth in e-commerce across Latin America has skyrocketed since the onset of COVID. Limited ability to transact in person drove a more rapid acceptance of digital payments than in prior years. And global brands have taken notice! But for an international seller, entering Latam markets is not simple.
International merchants can choose to sell products in Latam markets directly, building a brand, earning trust, and acquiring their own customers. However, this can be expensive and take time due to language barriers and cultural differences. A more optimal way to penetrate new markets for most global sellers is to meet Latam consumers where they are: on e-commerce marketplaces. But even this comes with its challenges in a region where brands have to manage fx, logistics, customs, time zones, and much more, across a fragmented marketplace ecosystem.
nocnoc provides a single point of access for global brands that want to sell goods through the various e-commerce marketplaces across Latin America.
nocnoc’s API-driven service enables global brands (today US- and China-based) to sell across the numerous e-commerce marketplaces in Latam. Sellers simply connect to nocnoc’s Seller Center and upload their product catalog in local prices. nocnoc then manages the listings across its 17 integrated marketplaces. nocnoc manages everything from marketing campaigns, listings, translations, international payments, taxes, communications with customers in local languages, as well as all logistics once sellers send items to local nocnoc-designated warehouses, including last mile delivery in Latam—all things that sellers would normally have to manage themselves.
When we met Ilan, Joaquin, and Diego, the three co-founders of nocnoc, we were impressed with their backgrounds, skillsets, and passion for enabling cross-border e-commerce to benefit Latam consumers. Their experience at Astropay and as part of the early team at dLocal means they have the chops to really scale a company and the skills to manage the complex requirements of nocnoc’s business, like cross-border payments.
nocnoc is focusing first on Brazil, Latam’s largest e-commerce market. nocnoc has already integrated with 17 marketplaces, including Mercado Libre and Walmart, providing its customers access to over 300 million digital buyers.
We are proud to have partnered with Quona Capital, as well as an amazing group of Latam investors and founders, to support the nocnoc team in their journey to enable cross-border commerce and improve access to global goods for Latam consumers.
nocnoc is now building out a team in the US and adding to their team in Uruguay to take advantage of this massive opportunity.
Check out open roles here or get in touch!
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