Small and micro merchants represent the beating heart of Latin America’s economy. They provide local communities – often individuals from low-income households – with access to essential goods and services. What’s more, it’s a critical means of employment; allowing people to earn a reliable income to support themselves and their families.
However, the life of a micro merchant is not without its challenges. If not equipped with the right resources and education, many can be easily left behind.
Recognising this, Felipe Vila founded Bolsiyo. Bolsiyo is a cash register app tailored for micro merchants, enabling them to log sales and expenses effortlessly so that the day’s earnings are all accounted for. But they’ve not stopped there…
With a true commitment to maximising the merchants’ potential, Bolsiyo has developed a suite of offerings to help scale their businesses and increase profitability. The impact enterprise provides solutions for payments, price positioning, expense management and maintaining customer loyalty. With the use of AI technology, users can also customise the app to their own needs. It is a user-friendly tool that enables merchants to stay competitive in a constantly evolving market.
Bolsiyo aspires to support one in every five micro-merchants in Latin America. This year, Unilever, the Global Solidarity Fund and EY will help Bolsiyo to realise its ambitions through the TRANSFORM programme in Colombia.
TRANSFORM will play an instrumental role in developing its educational service called Bolsiyo Academy, and the Bolsiyo Merchant OS set of tools. The OS technology will help integrate Client Engagement, Operations, Money Transactions and Supply Management, while the Academy will empower micro merchants to leverage these solutions effectively.
Through technology, Bolsiyo – with TRANSFORM’s help – is rethinking the way in which merchants engage with their clients and suppliers to ensure they continue to thrive independently and in the long-term. Micro merchants are true anchors of their communities. In helping them, Bolsiyo is contributing to the overall wellbeing and resilience of their local population.