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Markets

XMARKET raises $850k in seed funding to be the leading marketplace for Brazilian consumers

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Investing.com -

Launch is Set for 4th Quarter;XMarket.comis a One-Stop-Shop for Buyers and Sellers Within the Real Estate, Vehicles and Second-Hand Product Sectors

Sao Paulo, Brazil, July 15, 2014 - For the last month, millions upon millions of soccer fans worldwide have been watching the World Cup at its finest within the pristine communities of Brazil . With this said, Brazil is not only known for soccer, but also for the growing start-up scene that is attracting entrepreneurs from all over the world.

Among the eclectic mix of Brazilian start-ups is XMarket , an innovative marketplace, helping consumers have a one-stop location to buy and sell real estate, vehicles and second-hand products. Today, XMarket is announcing $850K in seed funding by angel investorsDror Efrat ,Marc Green & Yoram Yaeli,with an official launch set for the fourth quarter later this year.

"In a country with over 107 million internet users (ranked the 5 th in the world), and more mobile phones than people, there is still a lot of potential for growth and innovation in Real Estate, Vehicles&second-hand markets. States Dror Efrat.

XMarket is entering a competitive field, but CEO and Founder Lonny Szneiberg is no stranger to competitive markets. Szneiberg has been working within the online start-up scene since 1999 and most notedly for being a co-founder of Investing.com, which had only $300K in seed funding and reached profitability within just one year. Today, Investing.com has more than 120 employees with offices in three countries and is considered to be one of the largest financial portals worldwide.

"Buying and selling online is one of the most popular actions by consumers today. It is really surprising that in Brazil, a consumer still has to go through a long, complicated and exhausting process of finding a car or a house online due to having to use multiple websites," remarks XMarket's CEO and Founder Lonny Szneiberg. "XMarket is a platform which makes the buying and selling experience: fast, easy and secure."

Today's technology is allowing consumers to simplify the experience by making the communication easier and building a trusting community of buyers and sellers. This should be an enjoyable process resembling the Brazilian culture and atmosphere.

With the $850K in seed funding, XMarket is focused on simplifying the searching experience, drastically improve the communication between buyers&sellers while providing a solution for multiple platforms (i.e. Web&Mobile). Also, XMarket is planning on expanding its team and marketing to consumers with a launch set for the 4 th quarter of 2014. Stay Tuned.

About XMarket:

XMarket is an online marketplace for Real Estate, Vehicle&Second Hand items. Xmarket offers its users a simple&safe shopping experience. Our development team built XMarket from the ground up with user experience in mind. With our intuitive interface, and technology, buyers may easily reach the items they are looking for, and communicate to sellers effortlessly. For more information, check out www.xmarket.com .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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