Miferia wants to expand its wholesale inventory marketplace across Latin America
Miferia, a Mexico-based business-to-business wholesale marketplace, bagged $7 million in seed funding to continue developing its curated website connecting independent retailers in Mexico with domestic brands in categories like cosmetics, food and beverage and home décor. Over 90% of retail in Mexico, still takes place in just 2 million physical stores, and less than 1% of B2B transactions have moved online and are largely still dependent on cash transactions, which often requires retailers to pay upfront for merchandise.