Mercado Eletrônico
“Can a 30-year-old Latin American e-procurement platform become the AI-native Source-to-Pay backbone for B2B commerce globally?”
Founded1994
HQSão Paulo, Brazil
FoundersEduardo Nader
Total raised$8M
IndustryHorizontal SaaS / Procurement (B2B Source-to-Pay)
The story
Founded in 1994 as one of Latin America's earliest B2B e-procurement platforms, Mercado Eletrônico evolved from a supplier-catalog marketplace into a full Source-to-Pay (S2P) SaaS/PaaS suite serving over 1 million suppliers and moving ~R$180B annually. The company has expanded from Brazil into Portugal, Mexico, and the US, and its most recent strategic thrust is embedding AI agents (Genius, MCP-over-OData) directly into procurement workflows.
Product timeline
1994
Mercado Eletrônico founded in São Paulo as a B2B e-commerce platform· pivot
2019
Reached R$100 billion in cumulative transactions on the marketplace· banking
2020
Expanded internationally with offices in the US, Portugal, and launched Mexico operations· pivot
2024
Named the only Latin American company in the Gartner Magic Quadrant for Source-to-Pay· pivot
2025
Launched ME AI Genius and MCP OData Connect for AI-agent-driven procurement· pivot
The stack
1 layer disclosed in Mercado Eletrônico’s embedded-finance stack
Accounting
Power BIMicrosoft ExcelLooker StudioTableau
Accounting gap: significant