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.