Reflect Ventures

Reflect Ventures is a venture capital firm based in Boston, Massachusetts, founded in 2021. The firm specializes in making early-stage investments in high-potential startups at the seed and series A/B+ stages. Reflect Ventures focuses on identifying extraordinary founders and innovative companies across various sectors and geographies, including emerging and frontier markets. The firm typically seeks minority stakes in its portfolio companies, leveraging the expertise of recognized sector specialists to support the growth and development of these businesses. Its investor base includes family offices, institutional investors, and high-net-worth individuals from six continents.

Michael Friedman

Founder

44 past transactions

Fincart

Pre Seed Round in 2025
Fincart helps e-commerce SMBs access working capital through streamlining their last-mile operations through multi-courier shipping platform.

Pulse Tech

Pre Seed Round in 2024
Pulse Tech is a health technology company that specializes in digitizing and streamlining the pharmaceutical industry in Bangladesh. The company offers two primary services: MediPOS, a data-driven pharmacy management software that helps pharmacies track transactions and manage their businesses more efficiently, and Medbox, an integrated wholesale e-commerce platform that enables pharmacies to source products at competitive prices, with guaranteed authenticity, and receive last-mile delivery. Pulse Tech's platform also provides embedded credit and digital supply chain services, empowering over 230,000 pharmacies in the $4.3 billion market. By combining these services, Pulse Tech facilitates extensive data analytics on medicine consumption behavior, driving informed decision-making in the industry.

Maad

Seed Round in 2024
Maad is a rapidly growing B2B marketplace located in Dakar, Senegal, focused on serving small retailers and fast-moving consumer goods (FMCG) brands in Francophone Africa. The company offers a technology-driven platform that facilitates mobile ordering and ensures reliable product delivery. Its services include providing data on product availability and market share, as well as targeted promotional offerings to help businesses enhance their sales. Additionally, Maad supports retailers by offering working capital loans, creating a comprehensive solution for their operational needs.

Renda

Pre Seed Round in 2024
Renda specializes in supporting the development and operation of e-commerce companies, focusing particularly on logistics services across Africa. The company aims to simplify order fulfillment and retail distribution for its clients by offering flexible and affordable storage solutions. Renda provides real-time visibility on stock levels and inventory management, allowing businesses to manage their fulfillment processes with ease. Its infrastructure and technological platform are designed to be accessible and adaptable to the specific needs of e-commerce firms, ensuring an efficient and streamlined operation.

goFlux

Series A in 2024
GoFlux is a SaaS platform founded in 2015 and headquartered in Sao Paulo, Brazil. It connects companies with service providers, including carriers and logistics operators, facilitating a transparent quotation and hiring process for transportation services. Through its cloud-based platform, GoFlux enables shippers to manage the entire carrier hiring process efficiently. By streamlining these connections, the company aims to enhance operational efficiency for shippers, transporters, and suppliers alike.

Cargon

Seed Round in 2023
Cargon is a logistics company that provides a digital freight forwarding solution designed to connect shippers with carriers through intelligent matching algorithms. The company's platform facilitates an online freight forwarding service, allowing shippers to reliably transport loads while offering real-time tracking capabilities. By streamlining the logistics process, Cargon enhances the efficiency of shipping operations for its users.

Tappi

Pre Seed Round in 2023
Tappi is a full-stack software-as-a-service (SaaS) company focused on assisting small businesses in Africa in enhancing their online presence. The platform is designed to help these businesses attract customers and convert leads into sales by building detailed customer profiles through data aggregation from interactions. Tappi also aids in managing online reputation by collecting and promoting customer reviews, which contributes to increased visibility and reach. Additionally, the platform incorporates messaging and payment solutions, leveraging artificial intelligence to facilitate customer engagement and support the growth of small and medium-sized enterprises.

TAPPI

Pre Seed Round in 2023
TAPPI is the leading association for the worldwide pulp, paper, packaging, and converting industries and publisher of Paper360º.

Truckistan

Seed Round in 2023
Truckistan is a logistics platform focused on enhancing the efficiency and affordability of shipping. The company offers features such as real-time tracking, customer dashboards, account management, and guaranteed transit times. Additionally, Truckistan provides software-as-a-service tools that assist with routing, vehicle loading, and the implementation of RFID technology across the supply chain. By streamlining these processes, Truckistan aims to help clients reduce costs while promoting environmentally sustainable transportation of goods.

Maad

Seed Round in 2023
Maad is a rapidly growing B2B marketplace located in Dakar, Senegal, focused on serving small retailers and fast-moving consumer goods (FMCG) brands in Francophone Africa. The company offers a technology-driven platform that facilitates mobile ordering and ensures reliable product delivery. Its services include providing data on product availability and market share, as well as targeted promotional offerings to help businesses enhance their sales. Additionally, Maad supports retailers by offering working capital loans, creating a comprehensive solution for their operational needs.

Jatri

Series A in 2023
Jatri is a rapidly growing technology company based in Bangladesh, focused on providing reliable transport solutions through its mobility-as-a-service platform. The company aims to enhance the reliability and quality of the bus system, facilitating better travel experiences for commuters. By offering a platform for bus ticketing and tracking, Jatri promotes a shift from private vehicle ownership to more equitable, affordable, and accessible smart mobility options. This initiative seeks to streamline the journey experience for customers and enable drivers to deliver dependable transportation services.

Gigmile

Seed Round in 2023
Gigmile offers financial services specifically designed for gig workers. The company has developed an online lending platform that provides loans and other core services to support these workers in the mobility industry. Gigmile's approach includes offering affordable leases on productive assets tailored to the unique earnings of gig workers, allowing them to manage their financial responsibilities effectively. By focusing on the needs of gig workers, Gigmile enables them to concentrate on their work without the burden of concerns related to health, working capital, and emergency expenses. This support fosters entrepreneurial success within the gig economy.

Prosper Technologies

Venture Round in 2023
Prosper Technologies operates a cloud platform that specializes in financial data services. The company focuses on providing innovative solutions to manage and analyze financial information, enabling businesses to make informed decisions based on accurate and timely data. By leveraging advanced technology, Prosper Technologies aims to streamline financial processes and enhance the overall efficiency of financial management for its clients. The platform is designed to cater to a diverse range of industries, offering tools that help organizations optimize their financial operations and improve their strategic planning capabilities.

Pollen

Venture Round in 2023
Pollen's mission is to eliminate business waste, creating more sustainable outcomes for global brands, consumers, and the environment. We believe liquidation is an "Always On" workstream and, as such, our platform embraces a simple 3-step approach: * Predict -> Dynamic Pricing * Plan -> Scenario modeling * Prioritize - > Channel assignment

Appload

Venture Round in 2023
Appload is an online logistics platform that connects logistics companies with customers seeking cargo transport services. The platform aims to create a structured, efficient, and transparent supply chain system, allowing clients to easily plan, book, and track shipments through a user-friendly application. It features secure scheduling and an electronic payment system, ensuring the safety of transactions and shipments. Additionally, Appload provides customer services to enhance user experience, positioning itself as a key player in the B2B transportation and logistics technology sector.

EasyFresh Technologies

Seed Round in 2022
EasyFresh Technologies is an agri-tech startup focused on enhancing the supply chain for fresh produce. The company has developed a platform that connects farmers directly with retailers, serving as a mediator that simplifies the procurement and delivery process. By leveraging technology, EasyFresh Technologies engages farmers, improves the purchasing experience, and provides accurate price predictions. This approach allows clients to eliminate intermediaries and marketplaces, thereby streamlining the distribution of fresh produce from farms to shop owners.

Renda

Pre Seed Round in 2022
Renda specializes in supporting the development and operation of e-commerce companies, focusing particularly on logistics services across Africa. The company aims to simplify order fulfillment and retail distribution for its clients by offering flexible and affordable storage solutions. Renda provides real-time visibility on stock levels and inventory management, allowing businesses to manage their fulfillment processes with ease. Its infrastructure and technological platform are designed to be accessible and adaptable to the specific needs of e-commerce firms, ensuring an efficient and streamlined operation.

Elenas

Series B in 2022
Elenas is a leading social commerce platform in Latin America, primarily focused on empowering women to create online businesses and generate additional income through the sale of cosmetics, beauty products, and accessories. The platform enables users to sell a variety of branded items, including skincare, makeup, and personal care products, via popular social media channels such as WhatsApp and Facebook. It supports tens of thousands of women in Colombia and millions across the region, providing a comprehensive digital solution to help them establish online stores, manage customer interactions, and grow their businesses from home. Elenas takes care of product sourcing, delivery, and payment collection, allowing sellers to concentrate on their sales efforts and customer relations.

T40 Technologies

Pre Seed Round in 2022
T40 Technologies, founded in 2019, aims to transform the intercity transport sector in Nigeria by providing an open technology infrastructure that facilitates the digitization of operations for small and medium-sized transport service providers. The company focuses on enabling these operators to transition from manual processes to digital systems, enhancing revenue growth and productivity. T40 Technologies offers modern solutions for inventory management, fleet management, and customer relationship management, helping transport businesses streamline operations and improve service quality. By leveraging these digital tools, T40 empowers operators to enhance customer satisfaction and unlock new revenue and financing opportunities in the evolving transportation landscape.

Kamion

Seed Round in 2022
Kamion is a technology company founded in 2020 in Istanbul, Turkey, focused on enhancing the logistics market, which significantly contributes to the country's economy. It operates a digital logistics marketplace that provides instant quotes for full truckload (FTL) transportation needs, facilitating quicker processes and collaboration with dependable freight carriers. Kamion offers a range of services, including cargo insurance, process tracking, complete and partial load transportation, and home-to-home delivery. By leveraging technology, Kamion aims to streamline operations, reduce labor requirements, and improve data collection, ultimately enabling shippers to meet their transportation demands more efficiently and at competitive prices.

Dastgyr Technologies

Series A in 2022
Dastgyr is a B2B e-commerce platform based in Karachi, Pakistan, that connects small retailers with manufacturers, brands, and wholesalers. Founded in 2020, the company aims to streamline the fragmented supply chain by enabling informal retailers to source a diverse range of products directly from sellers. Through its marketplace application, Dastgyr facilitates the purchasing of inventories at competitive prices, offering retailers access to a broad assortment of merchandise from both local and international sources.

Moova

Series A in 2022
Moova is a technological platform focused on enhancing last-mile logistics by optimizing idle delivery capacity. It connects e-commerce and retail businesses with a network of independent couriers, known as "Moovers," who utilize bicycles, motorcycles, cars, or vans to fulfill deliveries, thereby creating additional income opportunities. The platform features route optimization software, real-time tracking, and electronic proof of delivery, allowing businesses to offer multiple delivery options to their customers. With its flexible warehousing and analytical capabilities, Moova aims to improve the efficiency of urban logistics in Latin America, supporting the growth of the e-commerce sector while promoting sustainable delivery practices.

MEDZnMORE

Seed Round in 2022
MedznMore is a digital healthcare innovator that focuses on enhancing access to healthcare through technology. Operating as an online pharmacy, it allows customers to order both over-the-counter and prescription medications from the convenience of their homes. The platform is designed to address issues related to counterfeit medicine and ensures that users can obtain their required medications in a cost-efficient manner. By integrating technology and innovation, MedznMore aims to make quality healthcare more effortless and reliable for its users.

Oware

Pre Seed Round in 2022
Oware Technologies is a cloud-based supply chain management startup that specializes in improving logistical frameworks for businesses in emerging markets. Its flagship platform, 0360, addresses the unique challenges of these regions by offering solutions for warehouse management, shipment tracking, and overall supply chain optimization. The platform utilizes advanced analytics, artificial intelligence, and real-time data to enhance operational efficiency, reduce costs, and increase supply chain visibility. Aimed primarily at small and medium-sized enterprises, Oware provides accessible and affordable warehousing and logistics services through an on-demand distribution network. This includes warehouse storage, inventory management, and order processing, allowing businesses of all sizes to effectively manage B2B logistics. The company's mission is to democratize access to advanced supply chain tools, thereby fostering economic growth and enhancing market competitiveness.

MarketForce

Series A in 2022
MarketForce is a technology company headquartered in the United States, with operations in Kenya and Nigeria, focused on enhancing B2B commerce and fintech solutions for African merchants. Launched in 2018, the company has developed the "RejaReja" platform, which allows merchants to digitally source, order, and pay for inventory. In addition to these services, MarketForce offers access to financing, enables digital payment collection, and allows merchants to resell digital financial services like airtime and utility tokens. Operating in five markets across Sub-Saharan Africa, MarketForce has established a rapidly growing network that includes over 200,000 merchants and 50 consumer brands. The company employs an asset-light business model to drive efficiency and productivity in the distribution of goods, utilizing advanced technology to streamline operations for its users.

Truck It In

Seed Round in 2022
Truck It In is a logistics technology company aimed at streamlining road freight operations in Pakistan. Its platform serves over 3.3 million businesses, providing a connection between shippers and truckers. By offering access to a reliable fleet of trucks at competitive prices, Truck It In facilitates instant load bookings and ensures back-haul load availability. The platform automates the delivery tracking process, thereby enhancing efficiency within the logistics industry and unlocking significant resource potential.

Jatri

Venture Round in 2022
Jatri is a rapidly growing technology company based in Bangladesh, focused on providing reliable transport solutions through its mobility-as-a-service platform. The company aims to enhance the reliability and quality of the bus system, facilitating better travel experiences for commuters. By offering a platform for bus ticketing and tracking, Jatri promotes a shift from private vehicle ownership to more equitable, affordable, and accessible smart mobility options. This initiative seeks to streamline the journey experience for customers and enable drivers to deliver dependable transportation services.

GoCement

Seed Round in 2022
GoCement operates a groundbreaking building materials marketplace that specializes in the on-demand delivery of pre-mixed cement and associated mixing equipment directly to construction sites. By addressing prevalent issues in the cement distribution industry, such as excessive intermediaries, inconsistent quality, and logistical challenges, GoCement streamlines the procurement process for construction materials. The company's innovative approach offers customers convenience, cost savings, and improved efficiency while ensuring standardized concrete quality. With a focus on minimizing waste and enhancing productivity, GoCement aims to transform the supply chain for building materials, enabling customers to access ready-to-use products effectively and reliably.

Truckistan

Pre Seed Round in 2022
Truckistan is a logistics platform focused on enhancing the efficiency and affordability of shipping. The company offers features such as real-time tracking, customer dashboards, account management, and guaranteed transit times. Additionally, Truckistan provides software-as-a-service tools that assist with routing, vehicle loading, and the implementation of RFID technology across the supply chain. By streamlining these processes, Truckistan aims to help clients reduce costs while promoting environmentally sustainable transportation of goods.

Turbodega

Seed Round in 2021
Turbodega S.A.C. is a technology company based in Lima, Peru, that specializes in developing a mobile application platform aimed at modernizing the supply chain for small grocery stores, known as bodegas. Established in 2018, the platform utilizes artificial intelligence to automate order processes, optimize inventory management, and provide real-time tracking of daily sales. By digitizing the traditional supply chain, Turbodega enables small retailers to streamline operations and enhance their competitiveness against larger grocery chains, ultimately helping them increase revenue and improve efficiency.

1Trolley

Venture Round in 2021
1Trolley is a delivery platform designed to support retailers in digitizing their operations and meeting the growing demand for on-demand delivery services. By providing an end-to-end solution, 1Trolley enables retailers to manage the purchasing, picking, and delivery of goods from local stores through a mobile app. This service empowers retailers to transition to online ordering and enhances their competitiveness in a digital marketplace. Additionally, 1Trolley aims to transform neighborhoods and malls into digitized environments, ultimately fostering community empowerment through digital innovation.

Chari

Seed Round in 2021
Chari is an e-commerce and fintech platform designed to support traditional retailers in French-speaking Africa by enabling them to order consumer goods efficiently. Through its application, retailers can conveniently place orders for fast-moving consumer goods, which are delivered for free within 24 hours. In addition to its logistics services, Chari provides financial support to these retailers by offering microloans, facilitating their operational needs and growth. The company's mission centers on empowering entrepreneurs by ensuring a reliable supply of goods and access to financial resources, simplifying the process of digitizing their retail operations.

Jatri

Series A in 2021
Jatri is a rapidly growing technology company based in Bangladesh, focused on providing reliable transport solutions through its mobility-as-a-service platform. The company aims to enhance the reliability and quality of the bus system, facilitating better travel experiences for commuters. By offering a platform for bus ticketing and tracking, Jatri promotes a shift from private vehicle ownership to more equitable, affordable, and accessible smart mobility options. This initiative seeks to streamline the journey experience for customers and enable drivers to deliver dependable transportation services.

ThriveFantasy

Series A in 2021
ThriveFantasy is a daily fantasy sports and esports platform founded in 2016 and based in New York, United States. The platform specializes in prop bets that allow users to engage with top-tier athletes across various sports through a questionnaire format. This approach is designed to enhance the experience for casual users by simplifying the betting process while providing opportunities to win awards. ThriveFantasy aims to democratize fantasy sports, making it more accessible and enjoyable for a broader audience.

Jatri

Seed Round in 2021
Jatri is a rapidly growing technology company based in Bangladesh, focused on providing reliable transport solutions through its mobility-as-a-service platform. The company aims to enhance the reliability and quality of the bus system, facilitating better travel experiences for commuters. By offering a platform for bus ticketing and tracking, Jatri promotes a shift from private vehicle ownership to more equitable, affordable, and accessible smart mobility options. This initiative seeks to streamline the journey experience for customers and enable drivers to deliver dependable transportation services.

Turbodega

Pre Seed Round in 2021
Turbodega S.A.C. is a technology company based in Lima, Peru, that specializes in developing a mobile application platform aimed at modernizing the supply chain for small grocery stores, known as bodegas. Established in 2018, the platform utilizes artificial intelligence to automate order processes, optimize inventory management, and provide real-time tracking of daily sales. By digitizing the traditional supply chain, Turbodega enables small retailers to streamline operations and enhance their competitiveness against larger grocery chains, ultimately helping them increase revenue and improve efficiency.

MarketForce

Seed Round in 2021
MarketForce is a technology company headquartered in the United States, with operations in Kenya and Nigeria, focused on enhancing B2B commerce and fintech solutions for African merchants. Launched in 2018, the company has developed the "RejaReja" platform, which allows merchants to digitally source, order, and pay for inventory. In addition to these services, MarketForce offers access to financing, enables digital payment collection, and allows merchants to resell digital financial services like airtime and utility tokens. Operating in five markets across Sub-Saharan Africa, MarketForce has established a rapidly growing network that includes over 200,000 merchants and 50 consumer brands. The company employs an asset-light business model to drive efficiency and productivity in the distribution of goods, utilizing advanced technology to streamline operations for its users.

Chari

Convertible Note in 2021
Chari is an e-commerce and fintech platform designed to support traditional retailers in French-speaking Africa by enabling them to order consumer goods efficiently. Through its application, retailers can conveniently place orders for fast-moving consumer goods, which are delivered for free within 24 hours. In addition to its logistics services, Chari provides financial support to these retailers by offering microloans, facilitating their operational needs and growth. The company's mission centers on empowering entrepreneurs by ensuring a reliable supply of goods and access to financial resources, simplifying the process of digitizing their retail operations.

Cake

Seed Round in 2021
Cake LLC is a Boston-based company that offers guidance, planning, and consulting services related to end-of-life preferences through its application. This platform allows users to create a secure online document detailing their instructions for various aspects of mortality, including healthcare, funerals, financial, and legal matters. Cake serves as a comprehensive resource, featuring over 1,400 articles and interactive planning tools designed to assist individuals in navigating the complexities of end-of-life decisions. With a monthly reach of over 1.5 million unique visitors, Cake collaborates with various organizations in the healthcare and financial sectors, providing essential support for users looking to curate their digital legacy and make meaningful choices regarding their mortality.

MarketForce

Seed Round in 2021
MarketForce is a technology company headquartered in the United States, with operations in Kenya and Nigeria, focused on enhancing B2B commerce and fintech solutions for African merchants. Launched in 2018, the company has developed the "RejaReja" platform, which allows merchants to digitally source, order, and pay for inventory. In addition to these services, MarketForce offers access to financing, enables digital payment collection, and allows merchants to resell digital financial services like airtime and utility tokens. Operating in five markets across Sub-Saharan Africa, MarketForce has established a rapidly growing network that includes over 200,000 merchants and 50 consumer brands. The company employs an asset-light business model to drive efficiency and productivity in the distribution of goods, utilizing advanced technology to streamline operations for its users.

Vivan Therapeutics

Series A in 2021
VIVAN Therapeutics is a company focused on transforming cancer care through personalized therapeutics. It utilizes a novel assay technology licensed from the Center for Personalized Cancer Therapeutics at Mt Sinai New York, which enables the development of tailored treatment strategies. The company's approach involves the Personal Discovery Process (PDP), a unique clinical trial method designed for individual patients. This process analyzes the genetic complexity of each patient's tumor by engineering it into fruit flies, allowing for the evaluation of both FDA-approved cancer and non-cancer drugs. VIVAN Therapeutics aims to provide less toxic and more affordable treatment options by recommending combinations of these drugs, thereby enhancing the effectiveness of cancer therapies. The company is also working on new diagnostics and decision support tools to improve treatment outcomes for cancer patients.

Ignatica

Seed Round in 2021
Ignatica is a provider of a cloud-based software platform tailored for the insurance industry, aiming to enhance efficiency and flexibility for insurers and brokers. The platform simplifies the management of complex and customized insurance products, allowing for the swift migration of existing offerings from outdated systems at minimal cost and risk. By alleviating the burdens associated with product launches and policy administration, Ignatica empowers insurers to deliver niche and affordable insurance solutions to a broader audience. This innovative approach opens up significant revenue opportunities while meeting the demand for digital services and speed that modern customers expect.

Allocations

Venture Round in 2021
Allocations is a technology company focused on creating an inclusive private equity and venture capital ecosystem that facilitates broader access to investment opportunities for individuals and businesses. The company has developed a funding platform that allows investors to efficiently raise and deploy capital, integrating tools for launching funds, onboarding limited partners, and scaling operations. By prioritizing data in the management of funds, Allocations empowers investors to compete with institutional players in the market. Since its inception, Allocations has successfully supported over 300 private funds, managing a total volume of approximately $250 million. The company has garnered significant investment, raising over $7 million from more than 200 investors, reflecting strong interest in its innovative approach to democratizing capital access.

MarketForce

MarketForce is a technology company headquartered in the United States, with operations in Kenya and Nigeria, focused on enhancing B2B commerce and fintech solutions for African merchants. Launched in 2018, the company has developed the "RejaReja" platform, which allows merchants to digitally source, order, and pay for inventory. In addition to these services, MarketForce offers access to financing, enables digital payment collection, and allows merchants to resell digital financial services like airtime and utility tokens. Operating in five markets across Sub-Saharan Africa, MarketForce has established a rapidly growing network that includes over 200,000 merchants and 50 consumer brands. The company employs an asset-light business model to drive efficiency and productivity in the distribution of goods, utilizing advanced technology to streamline operations for its users.
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