Scanntech

active

Scanntech (or the Company), a Uruguayan based company, provides a technology platform solution to small and medium independent grocery stores in South America. Through its platform, the Company is building a network of independent stores, consumer product companies, and service providers. Scanntech allows small and medium retailers access to area promotions with suppliers and to provide additional services (i.e. top-up or financial services) to their customers, which improves sales and store traffic. At the same time, the network enables consumer product companies and service providers to gain market share by adding a large number of independent stores to their network, and by obtaining pricing and market share information in this channel, which was previously very hard to reach. IFC is considering a potential equity investment of up to US$10 million in the holding company of Scanntech to help the Company expand in other South American markets.