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Velourit is solving the deep-rooted, unsexy problem of a complicated import/export process. There’s a huge demand for US products in Latin America. However, the process of shopping for, buying and shipping goods from another country is tedious, complicated, and time-consuming. The world lacks experts with export experience and technological knowledge.
Founder Brooke S. Sinclair is an Entrepreneur, Activist, Philanthropist, and the author of “The Top 25 VCs Least Likely to Invest in Founders of Color.” Brooke’s third business, Velourit, is based on two decades of experience in supply chain, logistics and transportation. Her life’s mission is to speak for those who cannot speak for themselves. Velourit supports persons of color by providing access to decent work, promoting their businesses, and fulfilling their right to rise from poverty.
Market, Model & Inflection Point
As Black Enterprise stated, 95% of the world’s consumers are outside of the US, yet only 1% of US businesses export their goods. As a country, we need companies like Velourit to succeed to help promote US businesses, increase GDP, and capture that international market that isn’t being tapped into.
According to MultichannelMerchant, Latin America 2nd largest eCommerce market in the world, growing at roughly 8.5% to $200B in size. Velourit already has an engaged online community of over 6,000 users.
Velourit purchases goods, and sells at a markup mostly to Luxury Resorts, Hotels & Gourmet Retailers. They have a unique deal flow, receiving referrals to customers through government agencies, social media & Trade Mission. It costs them $2,500 to acquire a new customer with a lifetime value of $500,000.
The immediate need to adapt to technology was spurred by COVID which also initiated a major change in domestic regulations and international trade.
Now is the time for this technology because consumer buying habits and market demands were forced to shift as a result of COVID. Pre-COVID the idea of eCommerce, and online sales, was seen as a novelty. Then COVID forced a shift in people’s frame of mind. COVID spurred the immediate adoption of technology.
Velourit has nearly all the pieces of the puzzle. They have the products, people and processes. Now they need the support of foundational capital to start making profits.
Amazon: Amazon.com, Inc. is a $1.6T American multinational technology company based in Seattle, Washington, which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence
Alibaba: A $838B Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.
Competitors are already deeply entrenched in owning their supply chain (trucks, warehouse, thousands of employees) that the technological model would mean indirectly eliminating millions of jobs. Velourit will stay ahead of competitors who enter the market with trade industry secrets, being the only black female-owned company, and their specialty in melanated buyers and sellers.
How would you deploy capital if you would hit your next milestone?
Velourit is raising $750k
- Equipment, software, and technology development
- Human capital and staff
- Marketing and advertising, cost of goods
Velourit is expecting 3–6 months for roll out of the beta & 9–24 months beta testing, features, and measured growth
What is the legacy you as a Founder, and as Velourit want to leave?
Brooke is passionate about increasing access to STEM for underrepresented youth as they travel through the high school to tech startup pipeline.