why did we invest in Zax?

Our initial decision to invest in Gira was based on several factors that made it an attractive opportunity within the fashion retail industry. Gira acted as a B2B marketplace, connecting SMBs with retailers, with the aim of becoming a comprehensive solution for this target audience. By addressing industry challenges and providing innovative solutions, Gira has strived to offer retailers a superior experience, enhanced financial services, and optimized logistics for all parties involved.

In 2023, Gira's co-founders and investors decided to merge with Zax, which is both a competitor and the leading company in the sector. Zax, founded by Bruno Ballardie (Co-founder & CEO) and Fernando Zanatta (Co-founder & CTO), has similar goals and began operations in 2019. Bruno has previously founded and operated two successful startups, including eÓtica, an e-commerce business backed by Kaszek, and eBricks (Igah), which focused on optical products and was acquired by EssilorLuxottica in 2015. Fernando has held prominent roles as a former CTO/COO in notable Brazilian tech companies such as Dafiti, Buscapé, and Netshoes. He is also the founder of the largest OTC Bitcoin trading platform and mining operation in Latin America, as well as an enterprise AI chatbot SAAS.

The digital transformation of the fashion supply chain is a reality, and Zax is playing a crucial role in connecting manufacturers and distributors across the country with specialized and online retailers. Currently, over 1 million SMB owners undertake risky, exhausting, and expensive trips to wholesale shopping circuits in Brazil every month to purchase inventory for their shops. Zax simplifies this process by offering buyers the convenience of shopping from all the stores they would find in regional wholesale hubs, from the comfort of their homes, while ensuring safety and offering various payment options. Additionally, Zax is experiencing growth in both the number of sellers and the revenues per seller on their platform through the use of a combination of marketplace, CRM, fintech, and SaaS tools. They are also automating WhatsApp campaigns and delivering full B2C marketplace integration and management. 

Considering these aspects, we believe that our investment supports a stronger company, positioned us as the most influential player in the region.