Merqueo, a Mexico City-based full-stack delivery scale-up, raised $50m in series C funding.
The round was led by IDC Ventures, Digital Bridge and IDB Invest supported by MGM Innova Group, Celtic House Venture Partners, Palm Drive Capital and previous shareholders.
The company plans to use this capital to grow in Latin America, hire and scale its team across Mexico, after launching its operations in Brazil this month.
Led by Miguel Mc Allister, CEO, Merqueo is a full-stack grocery delivery company owning and controlling the entire vertical supply chain — using its proprietary technology. Its catalog encompasses up to 10,000 products including fresh fruits and vegetables, imported products, liquors, household items, personal care goods, and more. Currently, the company operates in Mexico, Colombia and Brazil.
Mc Allister, an industry expert, also co-founded Domicilios.com, one of Latin America’s most successful food delivery companies, bought by Delivery Hero in 2017.