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§ Private Profile · Bogotá, Colombia
Merqueo is a technology company.
Merqueo operates an online platform delivering groceries and supermarket essentials directly to consumers. The company offers a broad product catalog, from fresh produce to household items, utilizing an efficient operational model. This ensures competitive pricing and convenient home delivery, providing value and accessibility within the Latin American market.
Co-founded in 2015 by Miguel McAllister, Merqueo emerged from his experience with the successful food delivery platform Domicilios.com. McAllister identified a critical opportunity to digitize the grocery supply chain, enhancing the consumer experience across Latin America by addressing traditional retail inefficiencies.
Merqueo serves price-sensitive Latin American households, offering affordable and high-quality products. Its vision is to transform the regional grocery sector through continuous technological and logistical advancements. The company aims to solidify market leadership and expand innovative delivery services to meet evolving consumer demands.
Merqueo has raised $52.0M across 2 funding rounds.
Merqueo has raised $52.0M in total across 2 funding rounds.
Merqueo is a Colombia-based technology company founded in 2017 that operates an online supermarket platform, delivering groceries and home essentials via a network of dark stores, warehouses, and logistics.[1][2][3] It serves consumers in Latin America seeking convenient access to products like fresh produce, household items, and personal care goods at competitive prices, solving pain points of time-consuming traditional shopping through fast delivery and a broad catalog of over 8,000 items.[1][2][3] The company has raised $86 million in funding, operates in 25 cities across Colombia, Mexico, and Brazil, and reported $24 million in revenue for the nine months ending September 2022, though it faced a $38 million net loss amid expansion.[2][3]
Merqueo's growth momentum includes a $20 million mezzanine debt facility in 2022 from IDB Invest and others to fuel tech development, working capital, capex, and Brazilian market consolidation, building on earlier rounds like a $50 million raise in 2021.[1][3]
Merqueo was founded in 2017 in Bogotá, Colombia, as a pioneer in the region's online grocery segment, though some sources note early activity around 2015.[1][2][3][4] Key leaders include CEO Felipe Ossa (ex-Managing Director at Domicilios.com), COO Saulo Brazil (ex-CEO of Delivery Center), VP of Technology Jonathan Sanchez, CFO Jairo Perez (ex-Exito Group), and VP of Design Carlos Light.[3] The idea emerged from identifying demand for efficient grocery delivery in Latin America, leveraging dark-store infrastructure for rapid fulfillment; early traction hit 600,000 users by July 2021 across 25 cities.[1][3] Pivotal moments include a $50 million funding round in 2021 for LatAm expansion and a filed (but withdrawn) $14 million US IPO in 2022.[3][4]
Merqueo rides the LatAm e-grocery boom, accelerated by pandemic-driven digital adoption and urbanization, where online penetration lags the US but grows rapidly amid weak physical retail infrastructure.[1][2][3] Timing aligns with rising smartphone use and venture interest in logistics tech; market forces like high food inflation and demand for convenience favor dark-store models over pure apps.[3] It influences the ecosystem by pioneering scalable delivery in underserved cities, competing with players like Justo and 99 Minutos, while attracting impact investors like IDB Invest for digital economy growth.[1][2]
Merqueo stands at an inflection point post-IPO withdrawal in 2023, with solid revenue traction ($45 million LTM) but profitability challenges from expansion losses.[3][4] Next steps likely include Brazil consolidation, tech enhancements for efficiency, and potential new funding or regional M&A amid cooling VC markets. Trends like AI-optimized logistics and quick-commerce wars will shape it, potentially evolving Merqueo into a dominant LatAm player if it achieves unit economics breakeven. This positions it to redefine grocery access, echoing its founding promise of smarter, faster shopping in emerging markets.
Merqueo has raised $52.0M in total across 2 funding rounds.
Merqueo's investors include IDC Ventures, DigitalBridge Ventures, IDB Invest, Celtic House Venture Partners, MGM Innova Group, Palm Drive Capital, Velum Ventures.
Merqueo has raised $52.0M across 2 funding rounds. Most recently, it raised $50.0M Series C in July 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2021 | $50M Series C | IDC Ventures, DigitalBridge Ventures, IDB Invest | Celtic House Venture Partners, MGM Innova Group, Palm Drive Capital | Announced |
| Oct 1, 2016 | $2M Seed | — | IDC Ventures, Velum Ventures | Announced |