Malco
Enabling seamless logistics from point A to point B through the power of AI.
Startup Snapshot
Startup name: Malco
Industry: LogiTech
Business Model: B2B Marketplace
Founder: Alonso Gálvez, Elà Linares and Alex Zamudio
Location: Mexico
Team Size: 5
Founded: 2023
Stage: Pre-Seed
Investors: Bootstrapped
Accelerators: Emprelatam, Founders Institute, Peak Nuevo León
Website: https://www.malco.app/
What does Malco do?
Malco is an AI-powered platform that bridges cargo providers with businesses, facilitating the seamless movement of goods from one destination to another. Their service ensures reliable connections between companies and trustworthy carriers, streamlining the intricate logistics web.
Malco's platform empowers carriers to optimize sales by facilitating customer engagement for cargo transportation, enabling load sharing and saving time on quotes. Their comprehensive approach spans local, national, and cross-border FTL (Full Truckload) and LTL (Less Than Truckload) shipments.
What's your backstory?
Alonso graduated from the University of Monterrey with a degree in Law and was hired by Leal Isla & Horvath, a law firm specializing in Corporate, M&A, and Venture Capital. His passion for driving change shone through his interactions with family offices, venture capitalists, and startups. He was motivated by the idea of transforming industries, which inspired him to pursue an MBA at ENAE Business School in Murcia, Spain. He received a scholarship to fund his studies.
After completing his MBA, Alonso contacted his old friend ElÃ, who was part of the founding team of a cybersecurity startup called X-Rator in France. Elà has worked with notable startups from Europe and Asia, including Viki Rakuten. Alonso's thesis focused on transportation and logistics, which inspired him and Elà to develop Malco. Although they loved the idea, they realized they needed to enhance their knowledge of logistics. Alonso joined RM Parks, one of the world's most important fuel logistics companies, where he gained a deeper understanding of logistics.
Alonso and Elà acknowledged the magnitude of their project. Hence, they invited ElÃ's friend Alex, who also studied Software Engineering and was a peer of Elà at Viki Rakuten, to join them. Together, they refined their idea, and in February 2023, they enrolled in Founders Institute and began building Malco.
How did you come up with the idea?
Alonso, ElÃ, and Alex focused his MBA thesis on transportation and logistics. They brainstormed ideas and landed on Malco, which has excellent potential in Mexico and LATAM.
Malco targets manufacturers, production companies, and the first-mile industry rather than last-mile B2C, which is quite saturated. Although there are existing startups and logistics companies in Mexico, they believe there is still an open market in the B2B logistics space.
How did you acquire your first customers?
The team behind Malco started promoting their services through blogs and Facebook groups. As word got around, people started approaching them to learn more about what they had to offer. They also found success through cold calling. By searching for carrier ads in local newspapers and reaching out to them, they could onboard carriers onto the Malco platform. Those who have signed up are thrilled about the opportunity to connect with businesses needing their services.
Security and trust are among the biggest concerns for both carriers and customers. Malco has implemented a rigorous QA process for both parties during the sign-up process to alleviate these worries. They have also established an escrow payment system, ensuring that carriers only receive payment upon successful delivery. Furthermore, Malco will introduce cargo insurance with Grupo GASME, a well-known transportation insurance provider in the region.
What's your motivation?
Alonso, ElÃ, and Alex share the everyday life goal of using technology to improve people's quality of life. They believe that technology should be empowering rather than all-consuming. Malco can make a significant impact by potentially revolutionizing an industry that has remained stagnant for centuries. This, in turn, would help reduce environmental damage and enhance the overall quality of life.
What's next for Malco?
In the short term, Malco intends to close its pre-seed round and launch its mobile application, enabling carriers to connect with clients and facilitate real-time cargo matching.
In the long term, Malco aims to become a central hub for businesses transporting items between locations. They aspire to extend beyond logistics and delve into financial services such as factoring, credit, and insurance. The company strives to establish a reputation of trust within the logistics industry, ensuring that clients can rely on the platform's carriers to be reliable, dedicated, and highly skilled, regardless of their company size.
Tips for other founders:
Read "Start with Why" by Simon Sinek. This book will help you understand the purpose of your actions, what motivates you, and why you are pursuing them.
Focus is crucial. It establishes a foundation for maintaining a rhythm, consistency, and discipline, aligning with your "why." Staying focused will help you persevere.
Develop emotional intelligence. Facing rejection and a lack of trust in your product and yourself can be daunting.
Special offer for our readers🚀
Free registration for carriers & shippers! Contact us at hola@malco.app and mention Founders Launchpad.
*Valid until November 30, 2023
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