Merqueo, a full-stack delivery scale-up, landed a $50 million series C round led by IDC Ventures, Digital Bridge and IDB Invest. The round was also supported by MGM Innova Group, Celtic House Venture Partners, Palm Drive Capital and previous shareholders.
“Merqueo has developed all the attributes and technologies required to operate in a complex market, such as Latin America. Cash acceptance, adaptation of delivery slots and adjusted price are critical variables to consider when scaling startups in the region,” said Alejandro Rodríguez, Managing Partner at IDC Ventures. “We are thrilled to support them in capturing the regional eGroceries revolution, which started 18 months ago with GoPuff and Getir, in the US and EU, respectively.”
The company plans to use this capital injection to become the largest and most ambitious dark stores network of Latin America. Furthermore, Merqueo is hiring and scaling its team across Mexico, and it launched its operations in Brazil this month.
“Merqueo is focused on building a highly scalable platform that can deliver great service at the best price. Once we proved our model, we looked for investors to continue our expansion across the region,” stated Miguel Mc Allister, CEO and co-founder of Merqueo. “Our technology and operational model allow us to offer great service and deliver faster and cheaper as we grow our network. In fact, our new Ultra delivery service allows us to deliver orders within just 15 minutes.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.