Marco, a Miami, FL-based provider of a trade finance platform, raised $12M in Series A funding.
The round was led by IDC Ventures, with additional participation from IDB Lab (the innovation and venture laboratory of the Inter-American Development Bank Group), Barn Invest, SquareOne Capital, Arcadia Funds, Florida Funders, Miami Angels, Kayyak Ventures, and Neer Ventures, among others.
The company intends to use the funds to further enhance its ESG efforts within the LatAm region.
Founded in 2020 by entrepreneurs Jacob Shoihet and Peter D. Spradling, Marco is building an operating system for Latin American SME exporters engaged in cross-border trade – providing them with easy access to financing. The platform offers a suite of products and services tailored to SMEs, including LLC creation, bookkeeping, banking, and financing tools such as factoring and asset-based lending.
The company has established itself as a key player in the trade finance sector, with a team of over 50 employees across its offices in Miami, New York City, and Montevideo, Uruguay. The company
Marco has additional offices in New York and Montevideo.
Commenting on the news, Jacob Shoihet said: “We are looking to serve a cohort that has been historically underserved, offering a comprehensive platform that encompasses everything from financing to compliance and beyond. With our suite of solutions, including LLC formation, bookkeeping, FX payouts, cargo insurance, and banking services, we are supercharging SMEs in trade and ultimately creating an economy that works for everyone.”
FinSMEs
19/03/2024