For the last month, millions upon millions of soccer fans worldwide have been watching the World Cup at its finest within the pristine communities of Brazil. With this said, Brazil is not only known for soccer, but also for the growing start-up scene that is attracting entrepreneurs from all over the world.
Among the eclectic mix of Brazilian start-ups is XMarket, an innovative marketplace, helping consumers with a one-stop location to buy and sell real estate, vehicles and second-hand products. Today, XMarket is announcing $850K in seed funding by angel investors Dror Efrat, Marc Green and Yoram Yaeli, with an official launch set for the fourth quarter later this year.
“In a country with over 107 million internet users (ranked the 5th in the world), and more mobile phones than people, there is a lot of potential for growth and innovation in Real Estate, vehicles and second-hand markets,” states Dror Efrat.
XMarket is entering a competitive field, but CEO and Founder Lonny Szneiberg is no stranger to competitive markets. Szneiberg has been working within the online start-up scene since 1999 and most noted for being a co-founder of Investing.com, which had only $300K in seed funding and reached profitability within just one year. Today, Investing.com has more than 120 employees with offices in three countries and is considered to be one of the largest financial portals worldwide.
“Buying and selling online is one of the most popular actions by consumers today. It is really surprising that in Brazil, a consumer still has to go through a long, complicated and exhausting process of finding a car or a house online due to having to use multiple websites,” remarks XMarket’s CEO and Founder Lonny Szneiberg. “XMarket is a platform which makes the buying and selling experience: fast, easy and secure.”With the $850K in seed funding, XMarket is focused on simplifying the searching experience, drastically improve the communication between buyers & sellers while providing a solution for multiple platforms (i.e. Web & Mobile). Also, XMarket is planning on expanding its team and marketing to consumers with a launch set for the 4th quarter of 2014. Stay Tuned.