Licify

Licify provides a digital platform optimizing procurement and supply chain management for construction and real estate. It centralizes and automates bidding processes, manages certified suppliers, and leverages AI for compliance and streamlined contracting. The platform offers tools for project planning, negotiation, and efficient payment processing, enhancing operational efficiency, reducing costs.

Fernando Olloqui, co-founder and CEO, launched Licify in 2018. His real estate background exposed inefficiencies and opacity in construction procurement. This insight drove him to develop a technological solution, modernizing buyer-supplier interactions and bringing clarity and efficiency to the fragmented supply chain.

Licify serves construction companies and real estate developers, providing control and insight into their supply chains. Its vision focuses on fostering a transparent, efficient construction ecosystem by lowering procurement costs and ensuring transaction traceability. Licify empowers businesses to make informed decisions for improved outcomes.

High-Level Overview

Licify is a technology company building a digital platform that streamlines buyer-supplier interactions in the construction and real estate sectors across Latin America.[1][2][3] It connects builders, developers, contractors, and property operators with over 10,500 certified suppliers, digitizing quotation, purchase, qualification, bidding, and payment processes while providing working capital to accelerate projects and cut costs.[1][3][5] Primarily serving the construction industry in Colombia, Licify tackles supply chain inefficiencies in one of the least digitized sectors, boasting over 16,000 registered small contractors generating 2,500+ bids monthly and reported revenue of $24.7 million.[4][5] Founded in 2017 at the seed stage with $3.57 million raised, the company shows strong growth momentum, including expansion plans into Mexico, Peru, and Chile.[1][5]

Origin Story

Licify was founded in 2017 in Bogotá, Colombia, by a team targeting the construction industry's outdated manual processes, which hinder procurement of over $250 billion in annual services from small contractors.[1][4][5] Emerging from the need to modernize bidding, payments, and supplier matching in Latin America's undigitized construction sector, the startup quickly gained traction with a seed round of $3.5 million led by Brick and Mortar Ventures and Acción Venture Lab.[1][5] Early milestones include building a network of over 10,000 users in Colombia and registering 16,000+ small contractors, setting the stage for regional scaling amid rapid adoption by builders seeking data-driven efficiencies.[3][5]

Core Differentiators

Licify stands out in the proptech and construction tech space through these key strengths:

• Marketplace for Transparent Bidding: Matches builders with qualified contractors via open bids, providing data on operational bandwidth, track records, and comparisons—democratizing access previously limited by manual networks.[1][5]
• End-to-End Digitization: Handles quotation, purchase, qualification, payments, and working capital loans, reducing execution time and costs while supporting small businesses with faster cash flow.[1][3][5]
• Regional Scale and Network: Over 10,500 certified suppliers and 16,000 contractors in Colombia, with AI-driven efficiencies and expansion into Mexico (first client secured).[1][2][5]
• Focus on Small Contractors: Generates 2,500+ monthly bids, boosting productivity for underserved providers in a $250B+ market ripe for tech disruption.[5]

Competitors like Easefix (home repairs) and Pantera Global Technology (bid management) lack Licify's emphasis on Latin American construction procurement and integrated financing.[1]

Role in the Broader Tech Landscape

Licify rides the proptech wave digitizing construction—one of the world's largest yet least tech-adopted industries—by addressing manual procurement bottlenecks that stifle small contractors powering $250B+ in annual services.[5] Timing is ideal amid Latin America's infrastructure boom, urbanization, and post-pandemic supply chain pressures, where digital platforms can unlock efficiencies and financial inclusion for SMEs.[2][3][5] Market forces like rising material costs and project delays favor Licify's transparent, data-rich model, positioning it as the #1 construction startup in the region per Proptech Scout rankings.[3] It influences the ecosystem by fostering innovation, enabling more projects through faster payments/loans, and paving the way for a full construction tech stack potentially integrating AI and other startups.[5][6]

Quick Take & Future Outlook

Licify is primed to dominate Latin American construction procurement, leveraging its entrenched Colombian base to capture Mexico next, followed by Peru and Chile, while enhancing AI tools and lending services.[1][5][6] Trends like AI-driven matching, embedded finance, and regional infrastructure spending will propel growth, potentially scaling revenue beyond $24.7 million as it builds a comprehensive ecosystem.[4][6] Its influence could evolve from marketplace pioneer to indispensable platform, empowering small contractors and transforming productivity—echoing its mission to streamline the interactions that build the built world.[2][5]