Javier Olivan Joins Endeavor Global Board of Directors Endeavor announced today that Javier Olivan, Vice President of Central Products at Facebook, has joined the Endeavor Global Board of Directors. Wences Casares, one of the earliest selected Endeavor Entrepreneurs and CEO and Founder of Xapo, is stepping down after nearly seven years of service. When Javier started at Facebook in 2007, he joined the company as the Head of International Growth. At the time, Facebook had fewer than 50 million people using the service and a very small portion of that outside of the US. Over the last 12 years, Javier and his team have helped the company grow to a community of over two billion people with more than 87% of those people accessing Facebook from outside the US. He continues to lead this team that help people break down barriers, connect to Facebook and create communities around the world. “Javier has unparalleled experience building and scaling some of the most important tech products today. I’m thrilled to welcome him to Endeavor’s Board of Directors, and am confident he’ll make an important impact,” said Endeavor Co-founder and CEO Linda Rottenberg. “I have been a huge fan of Endeavor’s mission and team for many years. I am honored to join their global board and am looking forward to supporting the next generation of founders and innovators across different countries and regions,” said Javier. As Vice President of Central Products at Facebook, Javier reports to the CEO and leads the central product teams that span the Facebook family of apps. This includes Facebook’s growth efforts, content enforcement efforts, ads and business platform, commerce, payments and social impact efforts. Beyond his product teams, he also leads several other groups including Facebook’s teams for data science, internationalization, UX research and content strategy. “We are delighted to welcome Javier to the board. We believe his perspective and expertise will add immense value to Endeavor and the high-impact entrepreneurs we support globally as we continue to scale as an organization,” said Endeavor Global Chairman Edgar Bronfman, Jr. Endeavor is a 22 year-old organization that is leading the global movement to drive long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. Founded in 1997 by Linda Rottenberg and Peter Kellner, Endeavor has helped more than 2,000 of these entrepreneurs build more than 1,200 companies across 35+ markets, which generated combined revenues of $20 billion in 2018. To date, companies led by Endeavor Entrepreneurs have created 3 million jobs, and often go on to mentor and invest in the next generation of founders or serve on the boards of Endeavor offices. Endeavor Selects 23 Entrepreneurs from 11 Markets at the 93rd International Selection Panel in Riyadh, Saudi Arabia Endeavor selected 23 high-impact entrepreneurs leading 14 companies from 11 markets at the 93rd International Selection Panel (ISP) in Riyadh, Saudi Arabia, held February 10-12, 2020. Endeavor now supports 2,039 entrepreneurs leading 1,272 companies in 35+ markets around the world. The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off. Over the course of the three-day event, panelists drawn from Endeavor’s extensive network of board members, mentors, supporters, and experienced Endeavor Entrepreneurs, interview entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and deliberating on which candidates should be selected to become Endeavor Entrepreneurs. Panelists must vote unanimously for a candidate to become an Endeavor Entrepreneur. “Endeavor’s selection process is designed to identify entrepreneurs who have the potential to make a big impact locally and globally, not only by scaling their businesses but also by reinvesting their success. The Riyadh ISP drew extraordinarily talented founders from around the world, and we’re thrilled to welcome 23 new Endeavor Entrepreneurs!” said Endeavor Co-founder and CEO Linda Rottenberg. Once selected, Endeavor Entrepreneurs gain access to comprehensive customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key needs. Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 3 million jobs, generated $20 billion in revenue in 2018, and help build sustainable growth models in their home countries. The 93rd ISP was hosted in partnership with Small and Medium Enterprises Authority (Momsha’at). Endeavor thanks 93rd ISP Strategic Sponsors Saudi Telecom Company (STC) and Riyad Bank. Upcoming ISPs in 2020 will be held in Brooklyn, New York (March 23-25), London, U.K. (May 11-13), Bali, Indonesia (June 30-July 2), Nairobi, Kenya (August 10-12), Lake Como, Italy (September 14-16), Palo Alto, California (October 26-28), and São Paulo, Brazil (December 9-11). For more information on these events, please contact ISP@endeavor.org. Learn more about the companies and entrepreneurs selected in Riyadh below: BRAZIL Entrepreneur: Pedro Conrade Company: Neon Description: Neon is a mobile first digital challenger bank focused exclusively on the Brazilian market. With an intense emphasis on user experience and an intuitive interface, Neon offers banking services, savings products (personal financial management tools), and credit cards & loans to individuals and small businesses. Neon is focused on servicing mid and low income individuals, young people, and the unbanked, who typically face barriers opening a standard bank account. Within four minutes a customer can start an account and verify their identity with facial recognition; once a small amount of cash is deposited, customers can instantly start using a digital credit card. Without needing to maintain physical operations, Neon passes on savings in the form of low transparent pricing and fees as compared to incumbent banks. Entrepreneur: Marcelo Lombardo Company: Omie Description: Omie is a cloud based ERP for SMEs containing everything a manager needs to run a small business within the complex regulatory and tax environment of Brazil, including financials, invoicing, inventory, manufacturing, CRM, and POS. To provide the best user experience, Omie has opened up its platforms to third parties to develop vertical specific features through its own API. In addition, Omie partners with banks and fintechs to offer financial solutions, such as credit, payments, and financing of receivables to SMEs across many industries. Using a franchise model, the company leverages local accounting firms for lead generation, gaining an edge over companies competing for digital marketing space. Accounting firms get the benefit of increased productivity as a result of standardization and digitization of their client’s information. Omie has also started a joint venture with four of the top accounting software providers in Brazil to create the next generation of accounting, payroll, and tax software. EGYPT Entrepreneurs: Luay Torky and Suhail Torky Company: SAAL Invest Description: SAAL Invest is an Egyptian restaurant group currently expanding its flagship brand, Buffalo Burger. With over 30 branches across the country, Buffalo Burger is a leader in the local fast food burger market. A sound franchise model and deep knowledge of the Egyptian market has allowed SAAL to continue to innovate and dominate local fast food, and the group is looking forward to further success throughout the region. INDONESIA Entrepreneur: Vikra Ijas and Alfatih Timur Company: Kitabisa Description: Kitabisa (“we can” in Indonesian), Indonesia’s first and largest crowdsourcing platform, is built to channel the country’s uniquely philanthropic ethos into funding for personal medical emergencies, humanitarian causes, and other projects sponsored by individuals and charitable organizations. Kitabisa caters to three user groups: (a) organizations, who leverage Kitabisa’s in-house marketing agency to maximize donor acquisition efficiency; (b) donors, who value Kitabisa’s simplicity and the ability to donate to individual causes; and (c) individual campaigners, who are able to tap into previously unavailable funding. JORDAN Entrepreneurs: Abdallah Faza and Kais Sheikh Hasan Company: Arabot Description: Lousy customer service calls are ubiquitous, but it doesn’t have to be that way. Arabot changes the customer experience by offering the first intelligent Arabic chatbot backed up with AI and a deep machine learning framework capable of accurately and efficiently analyzing conversations across Arabic dialects. The bot aims to boost customer experience and automate tasks, while simultaneously reducing company operational costs. The platform has been able to garner significant traction in the region, securing large enterprises and corporations from both the private and public sector as clients. Arabot hopes to capture a growing share of a booming market: the global chatbot market size is $2.6B and is expected to reach $9.4B by 2024. Entrepreneurs: Qais Sabri and Yousef Nassar Company: Eon Dental Description: Eon Dental (“Eon”) is the leading manufacturer of clear aligners – low-cost, plastic orthodontic devices used to adjust teeth – in the Middle East. Eon offers three primary products: (a) the direct-to-consumer OneTwoSmile brand, sold to individual patients, (b) the B2B2C Eon Aligner brand, sold to dentists and orthodontists seeking to offer aligners to their own patients, and (c) white-labeled aligners, sold to new entrants and small to medium-sized aligner companies who lack the expertise or desire to produce in-house. NIGERIA Entrepreneurs: Christian Wessels and Jasper Graf von Hardenberg Company: Daystar Power Description: Daystar Power is working to close Africa’s power gap by providing commercial and industrial customers with cleaner, reliable and more affordable electricity. Offering pure solar and hybrid solar-fossil fuel power generation systems across West Africa, Daystar makes reliable, clean energy more accessible with a unique financing model that requires no upfront payment, transparent payment plans, and schedule maintenance. PERU Entrepreneurs: Carlos Ganoza and Alvaro Collas Company: Quantum Talent Description: 150 million workers in Latin America are either unemployed or employed informally, while the majority of large corporations complain that they can’t find the talent they need to expand their operations. Quantum Talent is committed to bringing hiring practices in Latin America out of the 1970s, and creating a world where firms can hire the best talent as fast and easy as hailing a taxi. Quantum Talent has developed a SaaS tool, an AI-enabled psychometric evaluation, to drive efficiency in the hiring process by predicting employee-role fit for blue- and pink-collar labor. Firms using Quantum Talent report significant improvements in employee productivity and turnover, and the company aims to connect 100 million people with well-matched employment opportunities within the $12B hiring market. PHILIPPINES Entrepreneur: Paul Rivera Company: Kalibrr Description: Kalibrr aims to disrupt the white-collar recruiting industry through its AI-powered recruitment platform that recommends and matches jobs to job seekers based on their skills, experience, interests, and behavior. Clients using its platform save up to 90% of the time it takes to hire a qualified candidate. With presence in the Philippines and Indonesia, and many of the Philippines’ top companies as clients, Kalibrr aims to become the leader in AI-powered recruitment across Southeast Asia. Entrepreneur: Ray Refundo Company: Qwikwire Description: Qwikwire is in the business of providing comprehensive real estate solutions for brokers and property developers. From SaaS property management solutions, SAP integrated billing and invoicing systems, cross-border settlements via licensed remittance channels, to property listing via our blockchain powered multi-listing engine. SAUDI ARABIA Entrepreneurs: Moath Aldajan and Ammar Aldajan Company: Al Hatab Bakery Description: Alhatab Bakery is a 34-location retail chain in Saudi Arabia selling a wide variety of baked goods and gourmet specialties catered to local tastes. Its bakeries offer a combination of local and international breads, crackers, and pastries, in addition to decadent sweets and a counter where customers can purchase signature salads, dips, and appetizers. Its food and beverage selection reflects its Saudi roots, while preserving the essence and authenticity of local favorites with a health-forward twist. SPAIN Entrepreneur: Juan Desmonts Company: Dosfarma Description: Dosfarma is Spain’s largest licensed online pharmacy. With over 35,000 products with 2 hour and next day delivery options, the company makes everything from cosmetics to over the counter drugs convenient and accessible for Spanish consumers. Dosfarma gives personal care and medical brands a direct and effective platform to reach customers through custom campaigns and sales. UAE Entrepreneur: Vilhelm Hedberg Company: Ekar Description: Ekar is the first and largest carshare operator in the Middle East; Ekar provides on-demand access to over 1,000+ pay-per-minute and long-term (daily or weekly) cars across the Gulf. Ekar empowers users with a seamless platform to get around the city via rental cars. Through the use of a smartphone app and installed technology in rental cars, users are able to easily search, book and unlock cars safely and securely for personal driving use. Remembering Khaled Bichara The Endeavor network — entrepreneurs, mentors, board and team, in Egypt and globally — mourns the tragic loss of Khaled Bichara, a first believer and a founding Board Member of our organization in Egypt, an Endeavor Mentor, and a true role model whose entrepreneurial journey has inspired countless of founders in Egypt and beyond, and whose contributions as a mentor, investor and a boss have impacted the lives of many, many others. Khaled Bichara “As a founding board member of Endeavor, we’ll always be indebted to the role he played in championing our mission in Egypt in our early years, and to his continued support to our entrepreneurs from then on,” said Ayman Ismail, Chairman of Endeavor Egypt. “Khaled’s leadership has touched so many lives, and his entrepreneurial successes inspired an entire generation of founders,” added Ismail. Indeed, individually and through enabling platforms like Endeavor, Khaled never spared an effort to lend his support to founders in Egypt; known by everyone who’s engaged with him for his principled, thoughtful, and strategic guidance that have paved way for the success of many companies around us today. “Khaled was an amazing human being and true leader in every sense of the word. His legacy is defined by the people he inspired, the lives he touched, and the impact he left behind. And he did it with such humility and grace. I hold a few people in high regard for their work and life ethic. Khaled was one of them.” said Amr Shady one of the earlier selected Endeavor Entrepreneurs from Egypt who later joined the organization’s board of directors. Everyone who worked and engaged with Khaled could see his actions driven by a pure and firm belief in the role that successful founders like him play in catalyzing real, meaningful change that goes on to create jobs and spur innovation tangibly contributing to economic growth. Khaled once said, “Supporting small and medium-sized businesses is one of the best ways to give back to this country,” when asked about the importance of mentoring young founders and entrepreneurs in Egypt. And he lived up to this belief in every possible way. As we bid farewell to Khaled, and pay our respects to his family, friends and loved ones, we also honor his legacy, a hallmark of Egypt’s evolving entrepreneurship story. “He is a great loss to the entrepreneurship community. His legacy will live on for generations to come,” Shady added. Podcast: Masters of Scale Strategy Session Features Six Endeavor Entrepreneurs When’s the right time for hypergrowth? Should you take investment when you don’t need the money? How do you deal with an exhausted team? Six Endeavor Entrepreneurs facing hyperfast growth had the opportunity to ask Endeavor Global Board Member Reid Hoffman (Co-founder, LinkedIn; Partner, Greylock Partners) their most pressing questions about raising capital, pivoting their product, bootstrapping vs. blitzscaling and more, on a special strategy session of his podcast Masters of Scale. Listen to the episode here, featuring Endeavor Entrepreneurs Adalberto Flores (Kueski), Alejandro Artacho (Spotahome), Anabel Perez (Novopayment), Hande Cilingir (Insider), Nirmal Rajaram (Cita Rasa Prima), and Sergio Fogel (AstroPay), and cohosted by Harvard professor Youngme Moon, of the great HBS podcast After Hours. Listen here on Apple, or wherever you get your podcasts. January 2020 Newsletter To view Endeavor’s January newsletter, a recap of all the top news stories from the past month, please CLICK HERE. Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of the page. Endeavor Catalyst Announces Full Deployment of Its $80M+ Fund II and Plans for Fund III Endeavor Catalyst announced the full deployment of Endeavor Catalyst II at the end of 2019, investing the $80M+ fund in 78 companies led by 122 Endeavor Entrepreneurs in 26 growth markets globally. Endeavor Catalyst’s second fund (“Fund II”) saw a significant increase in the pace of investment as well as in geographic and industry diversity among investments. Launched in March 2017, Fund II was fully deployed in less than three years. “With its second fund now fully committed, Endeavor Catalyst has proven itself a win-win-win benefit for our entrepreneurs, LPs, and Endeavor as an organization,” said Linda Rottenberg, Co-founder and CEO of Endeavor. “Endeavor Catalyst provides Endeavor Entrepreneurs with the additional support they need while taking on the challenge of fundraising, and enables its LPs to share in their success; all while fostering Endeavor’s goal of becoming a self-sustaining organization worldwide.” Endeavor Catalyst, which initially launched in 2012 as a concept, made between five and ten investments in each of its first four years, including investments in Globant (NYSE: GLOB) in Argentina and Yemeksepeti.com in Turkey (acquired for $589M in 2015). That rate has increased dramatically over the past three years, as Endeavor expands around the world and Endeavor Entrepreneurs increasingly raise capital from top tier global investors. Endeavor Catalyst invested in over 30 companies per year in calendar years 2018 and 2019. Today, Endeavor Catalyst’s portfolio includes companies operating in eight distinct industry verticals, from Fintech and Smart Cities to Healthcare and Education. Fintech was the fastest growing area of investment over the past two years. Notably, around 12% of the companies are led by women (in the United States, just 2% of VC dollars went to female founders in 2018). Endeavor Catalyst’s pioneering model has largely facilitated this diversity. Endeavor Catalyst follows a rules-based approach, investing exclusively in Endeavor Entrepreneur-led companies raising equity rounds of $5M+ that are led by professional venture capital and growth equity funds. Following this approach, Fund II has joined record-breaking rounds from some of the fastest-growing companies around the world, including app-based mobility company SWVL, which raised the largest ever funding round for an Egyptian company; payments platform Cellulant, which raised one of the largest ever funding rounds in Africa; and Checkout.com, which raised the largest ever fintech Series A round in Europe catapulting it to unicorn status with a valuation of over $2B. Other unicorns in the Fund II portfolio include Brazil’s EBANX, Spain’s Cabify, Indonesia’s Bukalapak, and Colombia’s Rappi, which also achieved a partial exit in August 2019. “In markets around the world, Endeavor Entrepreneurs are not only solving problems at scale and disrupting traditional industries, but also fundamentally changing the way investors view entrepreneurship outside of Silicon Valley,” said Endeavor Catalyst Managing Director Allen Taylor. Endeavor Catalyst has invested in rounds led by many of the world’s leading venture capital and growth equity funds, providing its own LPs access and exposure to some of the fastest-growing companies all over the world. In Latin America, the MENA region, and parts of Europe, Endeavor Catalyst has been recognized as one of the most active equity investors. “Seeing firms like Sequoia Capital and Andreessen Horowitz investing in Latin America, TPG investing in Africa, and General Atlantic investing in the MENA region tells you a lot about the potential in these markets,” noted Taylor. In turn, Endeavor Catalyst has become a powerful platform for Endeavor Entrepreneurs to reinvest their success and personal gains in their peers. Today, 50+ Endeavor Entrepreneurs have become investors in the Endeavor Catalyst funds, including in Endeavor Catalyst III, which is currently being raised and is targeted to be a $120M+ fund. And while Endeavor Catalyst has gained significant momentum, Jackie Carmel, Endeavor Catalyst Managing Director, notes: “We are just getting started! Endeavor continues to raise the bar in its selection process and the Endeavor Catalyst pipeline is as active as it has ever been. As Endeavor continues to grow and expand its global reach, so does Endeavor Catalyst.” Learn more about Endeavor Catalyst here. 2019 Endeavor Impact Report 2019 provided many opportunities for us to reflect on just how far Endeavor has come over the past 22 years, while looking to the future as we recommit to our core belief — that high-impact entrepreneurs hold the key to sustainable economic growth. Among our highlights: Endeavor is more global than ever. We’re now a network of 500 team members, nearly 400 board members, and 5,000 mentors. And this year, we selected our 2,000th Endeavor Entrepreneur. Today, Endeavor supports entrepreneurs leading more than 1,200 companies across a wide variety of industries in 35+ growth markets around the world. Following last year’s launches in Vietnam, Nigeria, and Puerto Rico, we continued to extend our reach by opening new offices in Northwest Arkansas, Western New York, Colorado, and Ireland. These offices strengthen our presence across key regions and remind us that, when it comes to high-impact entrepreneurship, we are undoubtedly a global network. Endeavor’s expansion team is currently scoping new launch opportunities in Romania, Singapore, India, Canada, and Germany. We achieved a full deployment of Endeavor Catalyst’s Fund II, investing an additional $70 million to support the expansion of 126 Endeavor Entrepreneur companies. And we ended the year with $100 million committed to our third fund. Endeavor Catalyst LP partners include board members from over 30 Endeavor offices as well as over 50 Endeavor Entrepreneurs. We defined and shared our core values that guide our work, and will continue to steer us forward as we grow. Endeavor’s network is spread across multiple continents, countries, and cultures — our values bring us together, making us a truly borderless community. Finally, we celebrated four exceptional Endeavor Entrepreneurs with The Lindas, an award honoring the entrepreneurs in our network who most embody these core values and the Endeavor spirit of dreaming crazy, scaling up, and paying it forward. From breaking barriers as the first LatAm tech company to go public on the NYSE, to training the next generation of women in STEM, each of our 2019 winners are demonstrating that success is not only defined by going big but also by giving back. We’re thrilled to share Endeavor’s values and our remarkable global community of entrepreneurs with you in our 2018–2019 Impact Report, and remain inspired by what we have built together. Read our report here, and join us in supporting high-impact entrepreneurs around the world with a year-end gift. Endeavor Reaches Milestone of 2,000 Entrepreneurs Selected Following 92nd International Selection Panel in Riviera Maya, Mexico During the 92nd International Selection Panel in Riviera Maya, held December 11-13, 2019, Endeavor officially marked the milestone selection of the 2,000th Endeavor Entrepreneur since the organization’s founding in 1997. With 24 entrepreneurs leading 15 companies from 11 markets selected at this week’s panel, Endeavor now supports 2,016 entrepreneurs leading 1,258 companies in 35+ growth markets around the world. “Endeavor was founded on the belief that anyone, from anywhere, could launch a crazy idea, access the resources and network to take it to scale, and pay their success forward to the next generation. More than 20 years later, it’s a testament to the strength of the global network we have built together to reach — and surpass — the milestone of 2,000 Endeavor Entrepreneurs. We look forward to supporting our newest entrepreneurs selected in Riviera Maya in their journey to scale, and continuing to support many more in the future,” said Endeavor Co-founder and CEO Linda Rottenberg. The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off. Over the course of the three-day event, panelists drawn from Endeavor’s extensive network of board members, mentors, supporters, and experienced Endeavor Entrepreneurs, interview entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and deliberating on which candidates should be selected to become Endeavor Entrepreneurs. Panelists must vote unanimously for a candidate to become an Endeavor Entrepreneur. From a South African chat-enabled commerce platform to a Brazilian wellness company, the entrepreneurs selected during the Riviera Maya ISP are leading companies spanning a wide variety of industry verticals and geographies. Once selected, Endeavor Entrepreneurs gain access to comprehensive customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key needs. Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 3 million jobs, generated $20 billion in revenue in 2018, and help build sustainable growth models in their home countries. Endeavor thanks 92nd ISP Gold Level sponsor SoftBank; sponsors Flor de Caña, Alltournative, ábito, and La Europea; and supporters Casa de las Artesanías, YEMA, Pacari Chocolate, Don’t Worry, and Cervecería de Colima. ISPs in 2020 will be held in Riyadh, Saudi Arabia (February 10-12), Brooklyn, New York (March 23-25), London, U.K. (May 11-13), Bali, Indonesia (June 30-July 2), Nairobi, Kenya (August 10-12), Lake Como, Italy (September 14-16), Palo Alto, California (October 26-28), and São Paulo, Brazil (December 9-11). For more information on these events, please contact ISP@endeavor.org. Learn more about the companies and entrepreneurs selected in Mexico below: ARGENTINA Entrepreneurs: Julian Gurfinkiel, Andres Malenky and Martin Levy Company: Turismocity Description: Turismocity is an online metasearch and price comparison tool which allows travelers throughout Latin America the ability to compare flights, hotels, cruises, rental car and travel packages between thousands of service providers. Its tech platform detects price updates in real-time and delivers personalized emails to its 7M subscribers through its character named Carla, driving consumer purchase behavior. Started in Argentina in 2014, it has since expanded marketing operations to seven Latin American countries and has become the third most searched Latam travel brand among OTAs and metasearchers. Entrepreneurs: Agustina Fainguersch and Luciana Reznik Company: Wolox Description: Wolox is a software company that specializes in providing technological solutions to start-ups and companies that are seeking to innovate and need support in developing their ideas. Using the product building method, the Wolox tech teams guide clients through every stage of the process through the implementation of agile methodologies, high-end technology, personalized solutions, and quality assurance. The company has more than seven years in the market, and today has >400 employees and 200 products to serve its clients across Latin America and the US. ATLANTA Entrepreneur: Michael Jones Company: Thrive Farmers Description: The tired coffee supply chain is in need of a caffeine kick. Coffee and tea farmers have long been hindered by exploitative pricing, the unpredictability of commodity markets, and their distance from the end customer. The U.S. hot drinks market represents a $97B opportunity—one to which farmers can and should have access. Thrive Farmers is disrupting the traditional coffee and tea supply chain with an innovative revenue-sharing model that ties farmer payments to the end price paid by the customer, granting farmers higher incomes and greater stability. Founded in 2011, Thrive Farmers now works with over 1000 specialty coffee and tea farmers in 10 countries to bring sustainable, responsible coffee to the U.S with both B2B channels and a new retail concept. The company has also secured deals with large food and beverage corporations including Chick-fil-A, Jamba Juice, and Gordon Food Service. BRAZIL Entrepreneurs: Eduardo Diniz and Lohran Schmidt Company: Desinchá Description: Lohran and Eduardo started Desinchá (meaning “deflate”) in 2017 with the mission to create a wellness company that would make healthy living more accessible for Brazilians. Their flagship product, Desinchá Dia, is made from eight simple ingredients, including green tea, guarana, yerba mate, peppermint, and carqueja. Less than two years later, Desinchá is now the #2 most popular tea in Brazil and its products are available in more than 20,000 points-of-sale throughout Brazil, including three company-owned stores. With more than 5 million followers on Instagram, Desinchá is one of the most representative brands on social media in Brazil. Entrepreneurs: Britaldo Hernández Fernández, Rodrigo Iafelice dos Santos and Anselmo del Toro Arce Company: Solinftec Description: In response to the expected population-driven demand growth for food produced more sustainably and efficiently, Solinftec has developed a set of tech-solutions including proprietary hardware, telemetry communications, and a SaaS platform that helps farmers track and monitor the progress of their operations, in real time, helping them avoid mistakes, decrease costs and become more efficient. This enables them to increase the efficiency of their operations, resulting in decreased costs and pollution and increased yields. With the company’s IoT platform, smart black box installation on agricultural equipment, and its AI virtual assistance technology called ‘Alice,’ it has built its reputation on making several crops’ (sugarcane, soybeans, cotton, corn, wheat, grapes, orange, coffee, among others) operations digitized and more efficient. Today, Solinftec serves large international growers, including the top 10 Global sugar cane producers, dominating over 60% of the Brazilian sugarcane market. The company also holds a dominant position in agtech solutions for row crops in Brazil and sugarcane in Latin America, and is quickly growing in the US. In 2019 Solinftec started working very closely with 3 of the top 5 Ag Co-ops and Retailers, a combined 150 million acres in area of influence/reach. The company is also working successfully with over 35 small farmers in the US Midwest adapting its unique solutions to the smallholder’s needs. COLOMBIA Entrepreneur: Santiago Botero Company: Finsocial Description: Finsocial provides personal and payroll loans to teachers and pensioners, through a fully digital system that can analyze a customer’s credit-worthiness in minutes and disburse funds within a day. Twenty percent of Colombians are unbanked, 45% of the rural population lack access to financial services, and many more are too poorly rated or thin file to borrow. With wide coverage in rural areas, proprietary credit analysis software, a B-corps certification, and a low-risk lending profile due to government-backed payroll, Finsocial is ready to give teachers and pensioners the credit they deserve. ECUADOR Entrepreneur: Fernando Moncayo Company: Inspectorio Description: Inspectorio is a quality control and supplier compliance verification platform that brings transparency to the global supply chain. The company’s web and mobile technologies allow users to visualize data and analytics, creating efficiencies and accountability among stakeholders. The company offers a fast and affordable solution to monitor and participate in the on-site inspection process to access analytical advantages that provide insights into supplier performance. With major clients such as Kohl’s, American Eagle, Target, and Zara already signed, Inspectorio is well on its way to setting the global standard for production and supply chain compliance. GREECE Entrepreneur: Nicky Goulimis Company: Nova Credit Description: With global immigration growing from 258M people in 2017 to over 400M by 2050, the challenge of financial access for people who move is on the rise. Immigrants struggle to rent apartments, open bank accounts, and finance cell phones because their credit history is not portable, so they are forced to start over with every international move. Nova Credit provides seamless access to international credit history, enabling immigrants in the United States (46M) to restart their lives in a better position, and unlocking new consumers for lenders and other financial institutions.To ease the burden of immigration, Nova Credit works with three of the top five global banks, the largest tenant screening platforms, the leading credit bureaus across the world (Experian, Equifax, Transunion, CRIF, Creditinfo, etc.), and a broad range of fintech players and credit unions. LOUISVILLE Entrepreneur: Aaron Gani Company: BehaVR Description: BehaVR develops general wellness and digital therapeutics (DTx) virtual reality “experiences” to help users address stress, pain, addiction, and other mental health issues. Widely-accepted medical science indicates that virtual reality provides unique psychological and neurological effects that smartphone-based DTx – or in some cases, traditional behavioral or drug-based treatments – cannot replicate. BehaVR is a pure-play software company that earns revenue from selling annual subscriptions and per-engaged patient access to clinics, who in turn offer treatment to patients. BehaVR’s revenue has ballooned in its second year of sales, and has closed landmark deals with its first partners in the pharmaceutical and mass-retail health clinic sectors. MEXICO Entrepreneur: Courtney McColgan Company: Runa Description: Runa is a cloud-based payroll solution that is modernizing operations for companies across Latin America. Existing local solutions still require extensive use of Excel, and the bi-weekly process of paying employees can take up to 18 hours, draining time and resources and proving to be a frustrating and error-prone experience. Runa streamlines this process into a 15 minute workflow, and serves as a one stop shop for managing attendance, performance and workplace incidents for companies with up to 600 employees. PHILIPPINES Entrepreneur: Abetina Valenzuela Company: Equilife Medical Description: Equilife Medical (“Equilife”) makes critical care needs more available and affordable by offering medical device rental, on-site operating staff (e.g., respiratory therapists and nurses), and maintenance services (e.g., engineering calibration and repair) to intensive care units and homecare patients. Equilife is the only provider of medical equipment in the Philippines that offers “beyond-the-product” solutions that supplement equipment rentals, enabling it to slash costs of investment, procurement, and staff training far beyond its competitors. SOUTH AFRICA Entrepreneur: Pieter De Villiers Company: Clickatell Description: Clickatell’s chat commerce platform takes brands and services provides to where their customers and target market are (WhatsApp, FB Messenger, SMS, etc.) vs. asking customers to come to them (store, website, app download, etc.) enabling them to interact & transact 24×7, in real-time directly from anywhere (no new app, website or location required). Clickatell’s patent pending technology allows for ‘app like’ functionality that enables you and I to ‘get things done’ such as paying a beneficiary through chat banking or re-setting a password via chat self-serve all within the messaging platforms you already use. Entrepreneur: Tinashe Ruzane Company: FlexClub Description: FlexClub is a car rental platform for ride-hailing drivers that offers them a flexible path to car ownership. To acquire cars, the platform partners with people who own cars, or are looking to buy cars, with the intention of earning passive rental income from those cars. These Vehicle Partners lease the vehicles to FlexClub, which in turn rents the vehicles to ride-hailing drivers on a “Drive-to-Buy” plan. FlexClub takes full responsibility for all insurance, maintenance and fleet management, ensuring the Vehicle Partners are completely passive. Today the company operates in South Africa and Mexico, as a preferred partner to Uber, supporting drivers in achieving their dreams of car ownership. The company plans to unlock vehicle access and ownership opportunities for more than 100,000 drivers across Africa and Latin America over the next 5 years. URUGUAY Entrepreneurs: Javier Rocha and Martín Barbot Barbot Company: Funtour Description: Funtour is a Uruguayan travel experience company that brings children and teenagers together to explore new parts of the world. Beyond the services of a traditional agency, Funtour crafts every moment from the planning sessions before a trip to reunions up to a year later to build community among students and trust among parents. With an app that shares photos, itineraries, and recaps, parents can rest assured that their children are safe and happy, while students are free to explore and form new friendships. Entrepreneurs: Marcelo Daniel Lapi Cruz, Catalina María Prevett Vera and Andre Soares Buenos Company: Softruck Description: Softruck is an insurtech platform taking on car thieves across South America. Its AI-enabled software leverages billions of data points and works with off-the-shelf GPS systems to protect, track, and recover at-risk vehicles. Integrating seamlessly with local police forces, Softruck’s software can detect a theft before an owner realizes their car is missing, compare direction of travel to known patterns to determine where the vehicle is going, and recover it before the thief realizes what’s happening. With a 90%+ recover success rate, Softruck saves insurance carries money, gives vehicle owners peace of mind, and ensure would-be thieves think twice before making away with valuable property. December 2019 Newsletter To view Endeavor’s December newsletter, a recap of all the top news stories from the past month, please CLICK HERE. Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of the page. Global Founders Gather in New York City for Week of Curated Endeavor Programming Endeavor Entrepreneurs hailing from more than 30 markets convened in New York City this November for a week of curated programming tailored to industry and stage of scale, providing them with unique opportunities to learn from and network with their peers and NYC-based CEOs, founders and leaders in their fields. The week featured the EndeavHer gender and diversity summit; industry tours for Endeavor Entrepreneurs leading Retail, Food & Beverage (F&B), and Fintech companies; an Endeavor Outliers gathering; and culminated in the 2019 Endeavor Gala honoring PayPal President and CEO Dan Schulman on November 21. Kicking off the EndeavHer Summit Kicking off the week, the EndeavHer Global Summit gathered network members and New York City business leaders for conversations around gender and inclusivity in entrepreneurship. The event featured a workshop on Inclusive Leadership led by Equifax COO Robin Moriarty, a panel discussion on Gender and Raising capital with speakers such as Jordana Klier (Co-founder, LOLA) and Ellen DaSilva (Rough Draft Ventures, hims), and a keynote address on Diversity & Inclusion by Medici Group Director Deepali Bagati. Highlights of the vertical tours included intimate talks with industry leaders such as Mariah Chase (CEO, Eloquii), Steve Kessel (SVP Physical Stores, Amazon), Christina Tosi (Founder, Milk Bar), Rachel Drori (Founder, Daily Harvest), Nicolas Kopp (US CEO, N26), Aaron Karczmer (EVP, Chief Risk and Compliance Officer, PayPal), and Matt Harris (Managing Partner, Bain Capital Ventures and Endeavor Board Member). From approaches to innovation at companies like Amazon and MasterCard, to challenge-specific sessions such as branding, customer experience, and compliance, the industry tours covered topics designed to help Endeavor Entrepreneurs think bigger and learn tangible skills they apply to their companies as they scale. Core to the gatherings was also designated time for entrepreneurs to network and develop relationships with each other. Food and Beverage Tour Participants with Milk Bar Founder Christina Tosi (front, center) “Synergies among fellow participants was quite substantial as we’re almost all facing similar problems in different markets and stages around the world. Sharing experiences and discussing how we manage to overcome certain challenges (or not) is a unique opportunity,” reflected a Fintech Tour participant. Tailored to stage of scale, rather than industry, the Endeavor Outliers event gathered 13 entrepreneurs from some of the fastest-growing companies within Endeavor’s network for discussions and speakers focused on leadership, growth, and functional challenges. Entrepreneurs participated in roundtable discussions with Josh Silverman (CEO, Etsy), Danny Meyer (Founder & CEO, Union Square Hospitality), and Kevin Ryan (Chairman & Founder, MongoDB, Nomad Health, Zola), with some attending a private session with Dan Schulman before the Gala on Thursday. The week’s events were part of Endeavor’s ongoing initiative to help entrepreneurs leverage the full power of Endeavor’s network by providing opportunities to build community with peers across geographic borders, and learn from relevant experts in intimate settings. In 2019, Endeavor hosted similar events around the world, including a Fintech tour in China, market-entry tours in Brazil, and a multi-day Endeavor Outliers gathering in San Francisco.