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Merqueo raises $ 50 million to expand its super home delivery services in Latin America

The Colombian company has quintupled its sales growth in Mexico during the first half of 2021.

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Colombian scaleup Merqueo , the first digital megamarket in Latin America , announced a $ 50 million Series C round led by IDC Ventures, Digital Bridge and IDB Invest. Through a press release, the platform that offers a supermarket at home under the full-stack model, announced that the investment round was also joined by MGM Innova Group, Celtic House Venture Partners, Palm Drive Capital and previous shareholders.

Cortesía Merqueo

The Merqueo model based on disintermediation and the use of internal technology reduces logistics costs, allows absolute control of the customer experience and makes the service accessible to a greater number of people, who are unwilling or unable to pay high fees. delivery fees or commission rates on your products.

The company plans to use this injection of capital to become the largest and most ambitious dark store network in Latin America. In addition, it is hiring and expanding its team throughout Mexico, and just started operations at the end of last month, in Brazil. By itself, this opens a window of opportunity to a $ 700 billion market in Latin America alone.

“Merqueo is focused on building a highly scalable platform that can provide excellent service at the best price. Once we tested our model, we looked for investors to continue our expansion in the region ”, says Miguel Mc Allister, CEO and co-founder of the Colombian scaleup.