GutXain platform, which fosters local commerce by offering products and services through the purchase and sale of vouchers, has raised 150,000 euros in its first round of funding. This has been carried out through the seek-tight process and private investors have participated in it. The operation has been closed this same month of January, just three months after being operational as a company. The APP is currently in the beta phase and will be launched on the market next March.
With the vouchers, users will be able to manage the purchase for themselves or as gifts for third parties, as well as their returns, without ever losing their money since they can be returned and redeemed at any business within the application. “With our application, designed for SMEs and freelancers and made for consumers, we intend to redefine the local purchasing process”, Mariano Murcia, CEO of the Valencian startup, has said. GutXain, which means “the good chain” in a play on words in English, is made up of 6 expert partners in areas such as business, marketing and communication, software and tax, and with more than 16 years of expertise behind them.
The gutXain business model is based on a subscription fee, which is between 20 and 50 euros, and with no permanence commitment for the local business. The sectors to which it is directed, in the first phase, are gastronomy, fashion, sports, travel, jewellery, leisure, beauty and health, experiences, footwear, and electronics, among others. “Currently, we have more than 30 trusted businesses to test with them in our beta phase. Local businesses feel supported by this application that promotes social impact and that will help them have a greater online visibility, as well as address a much broader target”, Lorena García, CMO of gutXain, has added. In the APP there will be filters to segment businesses in addition to sectors, categories (basis, cool, and premium), so the user can customize it according to their preferences.
The platform will operate in the multi-sector channel. “First, we will start with B2C and as we continue to join companies, both SMEs and freelancers, we will promote B2B until we become a multi-sector platform and finally target B2BC,” Murcia has explained. There are currently 3.5 million SMEs and 3.4 million freelancers. They represent 99.9% of the Spanish business fabric, contribute 65% of GDP and generate 75% of employment “and it is precisely they who need digital tools. For this reason, we want to democratize these management tools, which are only suitable for large companies, and make them available to small companies so that they can compete on equal terms”, Murcia has argued.
The startup is going to open the second funding round, following the seek-tight process and expanding to crowdfunding platforms. The expectations are ambitious since it is expected to reach 300,000 euros in 2022. A more than reasonable amount to launch the application on the market and start billing. For those interested in investing in the APP for local business vouchers, there is a contact form on the gutXain website (investors section). You can also send an email to [email protected] to find out about the evolution of the project, as well as receive the monthly newsletter where current investors are informed.