From an idea born out of frustration in a past job, to a $43million company in less than three years, Melbourne-based start-up, Sourci, is proving itself as a serious disruptor within the global sourcing and procurement industry.
Founded by young entrepreneurs Giovanni Pino and Ellie Vaisman in late 2018, the company has quickly established itself as an industry leader and has helped more than 200 Australian businesses reduce, on average, a whopping 30% of their manufacturing and importing costs.
Combining a full supply chain, procurement and consulting service, Sourci enables Australian businesses to access leading and specialist manufacturers across the globe.
They’ve done so by navigating and managing the varying requirements of importing products into the country, with real time experienced support throughout the entire process.
Sourci Co-Founder Giovanni Pino said his first-hand experience at importing products led him and Ellie to the creation of Sourci.
“I had experienced the frustration of sourcing manufacturers and importing products first hand while working in the printing industry.
It was an archaic and time consuming process with little transparency over manufacturing conditions, materials and the like. It’s what got me thinking that there had to be another way.
We’ve seen so many Australian businesses crippled by high manufacturing and importing costs, as well as many cases where the manufacturer being used is not reflecting the brand’s values or adhering to sustainable and ethical sourcing requests.
How has Sourci’s approach changed the game?
Our business model makes it easier for Australian businesses to have the opportunity to further grow and expand, by reducing these costs and creating a more sustainable sourcing option for them. ”
With people on the ground in Australia, China, Vietnam, India and Indonesia, Sourci’s sourcing power is deeper than any other Australian business across the APAC region, which now gives Aussie businesses – both big and small – the power of choice.
“Our clients are no longer tethered to the big players out of China. Our teams on the ground enable us to source quotes from multiple factories, across multiple countries, giving our clients the ability to really choose a manufacturing partner that is right for them.
With the current economic climate and tensions going on in the world, we’re seeing Australian businesses wanting to move away from a heavy reliance on Chinese manufacturing, and we’re in the unique position to support these businesses to do this.”
With the ability to source and work across all industries, Sourci has already played a pivotal role in sourcing goods for both small and large Australian businesses, including some of Australia’s most well-known eCommerce brands.
Recent projects have involved acquiring more than $30 million of Personal Protective Equipment during the COVID-19 crisis for the Australian & UK Government, as well as securing more than $500,000 of the highest grade metal for projects commissioned by VicRoads.
Entering a rapid growth phase, the company has experienced exponential growth over the last 12 months and has seen the team expand by a further 20 people globally, open new offices in China and India, and a 13889.8% increase in revenue.
With bold ambitions for the business, Founders Giovanni and Ellie are looking to expand the company further over the next five years, with plans to enter the US market and increase teams on the ground within the APAC region.
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