Improving
the delivery of construction materials from the store directly to the job
site, right to the exact point where they will be used, is one of the key
advantages of purchasing these products online. However, a study by the
Inter-American Development Bank (IDB) shows that companies in the construction
sector are generally less digitized than those in other service-related
industries.
Tiago del
Río (Peru, 28 years old) is convinced that the benefits of buying construction
materials online far outweigh the drawbacks. That’s why he created Equip, a
100% digital distributor of construction materials for the Latin American
market. “Our
digital platform centralizes all the supply and demand in the construction
sector, offering special pricing for construction companies while boosting
brand sales,” he explains.
According
to Del Río, the traditional process of purchasing construction materials in
physical stores comes with several disadvantages: it takes up to ten times
longer, prices are up to 20% higher due to limited bargaining power, companies
have less access to credit, and they also face limited visibility into product
availability, variety, and quality.
Equip is
the first fully digital construction supply store in Latin America focused
exclusively on construction firms.
“Thanks to
our technology, we can sell thousands of construction materials without needing
warehouses, inventory, or delivery trucks. Our AI-powered platform with digital
inventories allows companies to buy all materials at the best prices, with
delivery service and financing options,” Del Río summarizes as Equip’s key
strengths.
This
Industrial Engineer from the University of Lima (Peru) is no stranger to the
construction industry; his father’s side of the family has been involved in
construction for years. “When I was
very young, my father once told me that when you hand over a new home to a
family in need, you change their life. That really stuck with me and greatly
inspired the development of Equip,” he recalls.
To date,
the online platform offers over 16,000 products and has worked with more than
200 construction companies, impacting the development of 7,000 homes across 16
social housing projects. Currently, Equip is in a high-growth phase, with
platform sales reaching $4.5 million per year (approximately €4.1 million) and
backing from venture capital investors in Chile, Peru, and the United States.
Looking
ahead, Del Río sees leadership as the cornerstone of Equip’s future. “Equip will
become the leading digital distributor in Latin America. When someone wants to
build, the first thing they’ll think of will be Equip as a strategic partner.
Construction companies will come to our platform and find everything they need
for their projects,” he states confidently.
Del Río
believes that streamlining the purchasing process for construction firms will
shorten construction timelines and allow for the development of more housing. Tiago del
Rio has received multiple awards for his role as founder of Equip. In 2021, he
won La Mezcladora Challenge and also received the Best Business Pitch Award
from the Texas McCombs School of Business. He has participated in various
startup acceleration programs in Peru and the United States, and is one of MIT
Technology Review in Spanish 35 Innovators Under 35.
