Endeavor Investor Network: Buenos Aires Demo Day Facebook

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Get paid faster The problem. One of the biggest pains for SMBs in Latin America is that customers don't pay on time, specially in the B2B market. Today they are managing their accounts receivable with Excel spreadsheets, even those ones who have big ERPs like SAP. This is higly inefficient and time consuming. Our solution. Empreware is a web-based solution that allows them to manage accounts receivable in a much more efficent way by: Keeping track of each customer, making sure that all of them get into de collection process and all the tasks are done on time. Increasing the efficiency of the collections team, helping them to priorize and organize their daily work with goals, tasks and reminders. Automating everything that can be automated, and thus focusing the collectors' time where they add more value. Generating actionable information for managers, so they can measure and improve the process. Market size. There are 31 million SMBs in Latin America (26M in US), and we estimate a USD 1.5B market. Business model. We offer a 30-day trial and then subscription plans that range betwen USD 50 and USD 200 per month. Competitors. We mainly replace Excel spreadsheets, that's what +95% of our market is using. Traction. We launched on Feb 2013 for the spanish-speaking market in Latin America, and we're acquiring customers at USD 375 each with an estimated lifetime value higher than USD 1,000. We have 15 customers by now, and we're scaling our sales as we learn from customers. Management Team ‐ Agustín Badano (CEO) has been in charge of Banco Santander's VC Fund in Argentina, where he had the opportunity to see the way in which thousands of SMBs are managing their financials. Holds a degree in Industrial Engineering, Master in Finance and MBA. ‐ Francisco Canale (CTO) has experience as a programmer and leading teams of software developers. He previously co-founded Syncromind, a software factory in Argentina. Holds a degree in Computer Engineering. Funding. In 2012 we raised USD 450K from 500 Startups, NxtpLabs, Inspirit Angels and other US and Argentine investors. Agustín Badano agustin.badano@empreware.com Empreware's profile in AngelList https://angel.co/empreware-1

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