Dolado Revenue, Valuation & Funding (2024)

Dolado reported annualized gross revenue of approximately $2.4 million as of May 2022, based on roughly 1,500 active buyers spending an average of $120 per month, producing close to $200,000 in monthly GMV. Freire also cited a figure of $2 million in ARR when describing the business in annualized terms during the same conversation, reflecting the range depending on how the monthly run rate was measured at the time of the interview.

Dolado had 1,500 active buyers spending on the platform in the 30 days prior to the May 2022 interview, with an average spend of approximately $120 per buyer per month. The company also had more than 30,000 merchants registered on the platform in total, though the active paying cohort was 1,500.

Target customers are small electronics retailers, convenience stores, and gas stations located in cities with fewer than 100,000 people. The e-commerce SaaS tool offered to these merchants was free at the time of the interview, serving as a customer acquisition mechanism rather than a direct revenue source. Pricing for the software had not been established, and Freire indicated there was no near-term plan to monetize the SaaS layer.

Dolado operates primarily as a first-party B2B commerce business, purchasing electronics inventory and reselling it to small merchants, with over 90% of revenue coming from this model as of May 2022. A third-party marketplace layer, connecting external suppliers to buyers, had launched recently and represented a small share of volume, with approximately five suppliers and 500 SKUs on the platform.

The gross margin on the commerce business was 28%, and the contribution margin after logistics and transaction costs was 13%, which Freire confirmed. The regional average take rate for B2B marketplaces was cited by Freire at approximately 4%, and he noted Dolado's contribution margin exceeded that benchmark. The free e-commerce SaaS tool functions as a low-cost customer acquisition channel, with plans to eventually layer in financial services, credit, and payments once sufficient transaction data is accumulated.

The company was profitable at the contribution margin level at the time of the interview. Net burn was confirmed to be less than $300,000 per month, with more than 30 months of runway remaining after the Series A close. Targets for Series B readiness included $5 million in ARR and a 40% gross margin, up from the current 28%. Freire described the path to higher margins as involving a shift toward more software and financial services revenue over time.

Dolado had 113 full-time employees as of May 2022, approximately one year after the company began monetizing. Freire noted that the C-level team was drawn from leading marketplace companies in the Latin American region.