Intelligent CIO LATAM Issue 11 - Page 24

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Among the services we provide is access to digitized payments , which eliminates the risks associated with cash handling , while offering real-time data about inventory management . point of view and service point to make sure that we built the right product and processes . From there we have expanded the market to five countries in Africa and Latin America .
We also enable the mass , low-cost distribution of consumer goods through a single app , anywhere in the world . The app , called Red101 , is designed specifically for use by small , local merchants .
We founded the company when we recognized that , around the world , there are currently over 1 billion micro-businesses that are unbanked and are therefore
We originally started the business in Argentina where we launched our first pilot .
We have also diversified the type of retailers we were targeting , we started initially with only small kiosks , now we are working with small shops , restaurants and barber shops .
What is your company ’ s vision and goal ?
RedCloud is on a mission to digitize and empower an economy of one billion micro-businesses on a global basis , giving them the freedom to trade anywhere through an open commerce platform with the world ’ s largest local payment network .
Our ultimate goal is to allow this to happen anywhere – regardless of country , size of business , background – and give brands , distributors and merchants a single , trusted , decentralized platform on which to trade .
What kind of clients and market do you serve ?
We ’ re focused on the B2B buying relationship between manufacturers , distributors and their local merchants and retailers . Many consumer products are sold this way , with less than 4 % of this commerce carried out online .
We ’ re currently live across five markets : Argentina , Peru , Brazil , South Africa and Nigeria . We have half a million merchants registered to use our products and a further 1 million currently being onboarded . We have over 250 brands already live on our platform , and we ’ re backed by one of the world ’ s largest payment networks , meaning we have the capability to cover circa 500 – 600 million merchants .
Soumaya Hamzaoui , Co-founder and Chief
Operating Officer at RedCloud Technology excluded financially through no fault of their own . Our open commerce platform is built to empower and enrich these businesses , which are projected to serve over 5 billion customers by 2025 .
How has the business grown since it started and how did you ensure growth ?
We originally started the business in Argentina where we launched our first pilot . We worked very closely with retailers and spent time in the market to understand their pain points , their expectations from a technology
What ’ s the business ’ approach to management ?
We try to keep the entrepreneurship culture in the company . Even though we employ more than 80 people today , we try to maintain the start-up culture , especially in the local markets where we operate . We try to attract talent who are ambitious and resourceful and make sure we give them space to contribute through their local understanding of the market to shape the global strategy of the company .
We are also very proud to have a multicultural team who collaborate to create transcontinental partnerships for our clients and partners .
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