Quasar Ventures Launches New Company With An Investment Of USD 1 Million2014/06/24.
Rodati.com received its Seed Capital round to finance its development in the Latin American market.
Buenos Aires, June 23, 2014. Quasar Ventures, a technology focused company builder, announced today that it has attracted a Seed Capital round of $1 million in funding from a group of strategic investors to develop Rodati.com. Rodati.com is an internet company that seeks to simplify the new car buying experience in Latin America. Investors include NXTP Labs, Richmond Global and a group of angel investors based in both the USA and Latin America. Further, Quasar Ventures has also taken part in this round of funding.
Rodati.com was Co-Founded by the experienced entrepreneurial leaders of Quasar Ventures, Andy Freire, Santiago Bilinkis and Pablo Simón Casarino – together with two young entrepreneurs: Julián Bender and Miguel Angel Morkin. The founding team was completed with the addition of Ezequiel Sculli as CTO.
This way, Rodati.com is the latest addition to Quasar’s portfolio, which includes Restorando.com and Avenida.com, two companies that disrupted their respective industries with innovative business proposals and also attracted great interest from local and international investors.
Rodati.com provides a hassle-free experience that simplifies the new car buying process for the customer. On the site, users can get all the tools and information needed to make an informed decision without making calls or visiting multiple dealers. Similarly, car dealers get help to multiply their sales and lower their costs.
In the initial phase, all the efforts will be focused on San Pablo (Brasil), aiming to create a network of 50 dealers in the next 6 months. The expansion of the service to Argentina and Mexico is planned for later this year.
Referring to the launch of Rodati.com, Co-Founder and CEO of Quasar Pablo Simon, said “the idea is to make a radical change in the experience of buying new cars, end to end.” According to Simon, “the result of this new initiative validates Quasar’s business model, which is neither a Venture Capital fund nor an incubator.” “We are an experienced group of entrepreneurs who create disruptive and successful technology companies, combining solid business models and talented teams of entrepreneurs”, he added.
Miguel Angel Morkin and Julian Bender explained “if we add the number of new car sales in Argentina, Brazil and Mexico, we are talking about 50% of the amount of sales in the United States. There are few markets in the region where the retail marketplace is so close to the USA, generally, the ratio tends to be 1 to 10”, they stressed.
According to Quasar’s estimates, Rodati.com can become a company valued in USD 500 Million with estimated USD 80 Million annual revenue on a regional market that holds great potential for growth in the coming years.
Entrepreneurs stated that the funds will boost growth and will be directed at investments in human resources, marketing and technology.