PROJECT

Projects

Summary of Investment Information

Project Number

34301

Company Name

SCANNTECH

Date SPI Disclosed

Mar 4, 2014

Country

Uruguay

Region

Latin America and the Caribbean

Projected Board Date

Apr 3, 2014

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

TMT, Venture Capital & Funds

Industry

Financial Markets

Previous Events

Approved : May 2, 2014
Signed : May 29, 2014
Invested : Jun 13, 2014

Sector

Retail Payment Points

Project Description

Scanntech (or the Company), a Uruguayan based company, provides a technology platform solution to small and medium independent grocery stores in South America. Through its platform, the Company is building a network of independent stores, consumer product companies, and service providers. Scanntech allows small and medium retailers access to area promotions with suppliers and to provide additional services (i.e. top-up or financial services) to their customers, which improves sales and store traffic. At the same time, the network enables consumer product companies and service providers to gain market share by adding a large number of independent stores to their network, and by obtaining pricing and market share information in this channel, which was previously very hard to reach. IFC is considering a potential equity investment of up to US$10 million in the holding company of Scanntech to help the Company expand in other South American markets.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation