GLEMO - Investment Memo (Web2 Operating Business)
For: Venture Capital - Seed - Confidential
Summary
GLEMO is the operating layer for Brazilian real estate. The Web2 track consolidates a core relationship-manager brokerage engine plus two leverage layers: a production AI Sales Agent and an application marketplace. Capital does not create the thesis; it compresses time by replicating an existing founder-led sales cadence on already-open Tier 1 contracts.
Why Now
Brazil's largest homebuilders must deliver qualified buyers at scale in the MCMV segment (49% of national sales in Q1 2026). GLEMO's AI Agent is already in production. Brazil-US demand is treated as upside to the domestic operation. The founder has invested more than USD 1.2M of personal capital since 2021.
Round Terms
| Item | Canonical Position |
|---|---|
| Instrument | Post-money SAFE; final legal execution pending |
| Round size | USD 1M |
| Valuation cap | USD 6M post-money |
| Discount | 20% |
| Base case | 100% MCMV; cross-border only in upside |
| Founder capital | USD 1.2M+ since 2021, management-reported |
Base Case (24 months)
| Metric | Value |
|---|---|
| Year 1 revenue | USD 1.62M |
| Year 2 revenue | USD 8.91M |
| 24-month cumulative revenue | USD 10.53M |
| 24-month cumulative EBITDA | USD 4.34M |
| Year 2 EBITDA margin | ~45.9% |
| Breakeven | Month 7 |
| M24 annualized run-rate | USD 10.70M |
| Cross-border upside | 900 units/mo; USD 22.4M 24m revenue; USD 12.6M 24m EBITDA, subject to added capacity and the scenario SaaS margin |
Important: model outputs are projections, not current revenue. GMV (USD 6M+ intermediated) is not revenue; gross commission and SaaS are reported separately.