The construction industry faces challenges in securing materials efficiently and affordably, especially in emerging markets like Mexico, highlighting the need for innovative solutions to streamline processes and build trust.
Enter Mangxo.
Mangxo is transforming the construction supply chain by simplifying material procurement, acting as a credit facilitator, and building trust between suppliers and construction companies. By ensuring timely payments and mitigating financial risks, Mangxo addresses the challenges in regions like Mexico, where access to traditional credit systems is limited.
Mangxo Inception Story
Luis Morales and his co-founders, Sergio and Patricio, first met over a decade ago during high school, which eventually sparked their brainstorming of business ideas. Sergio Angelini is the third generation of a family of builders. For years, he has witnessed the daily challenges his father faces and Patricio Naumann is the former CTO of an Argentine company specializing in microloans, called Creditamente. His experience allowed him to quickly identify and develop solutions for a market as specific as construction.
After graduation, Luis later worked for a Chinese construction company Jiaheng Construction in Monterrey, Mx, where he encountered major challenges related to material procurement.
"(At my previous company) I was having a lot of trouble with buying materials and having some credit issues because our company was new in the market. Even though we (my prior company) had a substantial amount of liquidity, they were not established in Monterrey, so it was challenging to open credit lines," Luis explained.
Initially, they considered creating a marketplace for construction materials, but quickly realized the industry wasn’t ready for such a solution so they turned to a more immediate problem…access to credit within the construction industry.
