Investment

Mercadoni Raises $9M Series A from Brazil’s Movile

Movile, the Brazilian mobile application giant with more than 120M monthly users invested $9M into Colombian delivery company Mercadoni. Mercadoni is the 3rd competitor in the highly competitive deliver anything market, along with Rappi and Cornershop, companies that have raised more than $200M between themselves.

From Pulso Social, which first reported this story in Spanish:

Just six months after raising $6.2M and opening operations in Mexico and Argentina, the Colombian online delivery startup Mercadoni raised $9M from Movile, which is backed by Naspers.

Naspers, the South African publicly traded company with a market cap of more than $1.32 trillion, and one of the world’s biggest investment funds, has invested in OLX and Flipkart and more.

“Our new investment round, led by Movile, shows that in Colombia, just like in the US, the online delivery sector is generating big interest. Estimates show that Colombia, like the US, will represent up to 20% of all sales by 2025,” said Pedro Freire, Mercadoni’s cofounder.

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