Printi, a Brazilian provider of online printing services, has raised $1.2 million in new funding. Greenoaks Capital Management led the round and was joined by Cap Meridian, and by individuals including Joe Lonsdale, Fabrice Grinda, Jose Marin, Florian Otto, the company said Tuesday.
Printi is the Brazilian innovator of online, on-demand printing solutions for a broad range of print products. Instant and fully-automated pricing, seamless order processing, fast turnaround times and a product portfolio with over 6,000 permutations offer an unprecedented level of convenience and quality. By doing away with bureaucracy and intermediary steps in the traditional offline purchasing process, Printi enables a high degree of efficiency with large cost savings for the client.
“Printi is just launching, yet it already counts several major corporations as their anchor clients and has processed over one million flyers, catalogues, brochures and many other products. The confluence of a professional team with deep local experience, a state-of-the-art production plant and a Silicon Valley approach to business building made for a rare and compelling investment opportunity”, says Peter Fernandez (Head of Mobile & Social, Google Latin America).
In the spirit of high technological efficacy and a customer-centric culture, Printi is funded by some of the most experienced technology investors across Silicon Valley and Brazil. The company recently raised an oversubscribed Series A round, led by Greenoaks Capital Management and Cap Meridian. Other investors that joined the round include Joe Lonsdale (Founder of Palantir Technologies & Addepar, early employee of PayPal), Fabrice Grinda (OLX) and Florian Otto (Founder & CEO, Groupon Brazil), and others.
The Brazilian market for print products has been growing at around 8-10% annually with revenues estimated at $15+ billion. Demand is expected to further increase, particularly as companies bolster their budgets for the World Cup and Olympics in 2016.
“Whilst the opportunity is large, the Brazilian print industry has experienced little innovation and disruption over the past decade. Much of this stems from the largely fragmented structure of the market, lacking clear leaders and innovators. There is a real chance to tackle the two largest pain points of convenience and price”, explain the two founders, Florian Hagenbuch and Mate Pencz.
The online platform is seamlessly integrated with a large production facility outside of São Paulo. Leveraging a machine park of both off-set and digital printing presses, Printi is able to process a high volume of orders ranging from small runs of business cards to millions of flyers and magazines. A large production capacity, 24/7 operations and an integrated logistics system enable fast delivery times at high quality. Particularly for small- and medium-sized Brazilian enterprises, this degree of product quality at competitive prices has not been accessible before.
“Just to highlight the value of Printi: my business partner and I pick up thousands of
business cards every time we go to the US and fly them back in our luggage. In Brazil
a business card can cost close to a buck versus a cent in the US. It’s hard to hand
someone a buck every time you meet a new person. We’re pumped that these guys
are figuring this out”, exclaims Kimball Thomas, Founder & Co-CEO of Baby.com.br,
and one of Printi’s earliest clients.
The company soon hopes to offer all commercial print products that are currently
available in the offline market. This offering could be extended to include packaging
materials for offline and e-commerce companies, as well as corporate document
printing and distribution. Given Printi’s dynamic platform, an expansion to select
markets across Latin America is possible.
Florian Hagenbuch – Co-Founder
Graduated summa cum laude from the Huntsman Program at the
University of Pennsylvania, with a B.S. in Economics from the
Wharton School and a B.A. in International Studies from the
College of Arts & Sciences. Has worked in investment banking at
Goldman Sachs and The Blackstone Group, and in private equity at
Silver Lake. Florian moved to Brazil when he was four years old.
Mate Pencz – Co-Founder
Graduated with a BA in Economics from Harvard University. Has
worked in investment banking and alternative asset management
at Goldman Sachs, Morgan Stanley and Alta Advisers. During
college, Mate spent three years building a large emerging markets
conference and has experience across marketing, sales and
Printi is an online printing solution in Brazil, offering a range of commercial and
marketing products. Dedicated to the highest quality standards at affordable prices,
Printi combines cutting-edge technology with effortless online customization to create a seamless ordering and production process. As a leader in the online print space, Printii s constantly innovating in the quest for faster turnarounds and continued customer satisfaction. The company is funded by veteran technology investors and industry experts Greenoaks Capital Management, Cap Meridian, Joe Lonsdale (Palantir Technologies), Fabrice Grinda (OLX), Jose Marin (IG Expansion), Florian Otto (Groupon), Kai Schoppen (Brandsclub) and Peter Fernandez (Google).