Company name

N/A

Project number

13219-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Regional

Sector

Telecommunications, Media and Technology

Status

In implementation

Disclosed date

11/20/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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04/06/2021

Approval date

04/06/2021

Signed date

06/04/2021

Sponsoring entity

Merqueo S.A.S

Team leader

Vera Fabbri, Pablo Marcelo

Investment type

Syndicated amount

USD $ 3,000,000

Financing amount

USD $ 7,000,000

Currency

USD

Project scope and objective

IDB Invest is considering an investment of up to US$10 million in Merqueo S.A.S. (the “Company”). Launched in 2017, Merqueo is a grocery e-commerce platform (“e-grocery”) offering grocery delivery services in Colombia and Mexico. The Company is a 100% digital player with no physical stores, and it is considered a pureplay as it controls the entire operation, including the technology platform, product sourcing, warehouse operations and final deliveries.



During the COVID-19 emergency crisis, online platforms such as Merqueo have become a key tool for the general population as e-grocery offers one of the safest alternative for everyday purchases. The capital round will allow Merqueo to support its growth plan as follows: (i) finance current operations to support expected growth through investments in technology, warehouses, marketing, and human resources, among others; (ii) consolidate and promote its regional expansion.



The objectives of investing in Merqueo are (i) increase the sale of product via e-grocery platforms, (ii) foster the growth of the retail supply chain, (iii) improve access to basic products and (iii) to  promote the adoption of e-grocery in low income segments.



 


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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

MERQUEO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

225.3 Kb

MERQUEO- ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

81.9 Kb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Laura Oyuela

POSITION

CFO

PHONE NUMBER

+57-3153105644

EMAIL

oyuela@merqueo.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices