Marco raises $200M to expand SME financing platform in Latin America.

Hand holding money

Marco raised $200M in a recent financing round led by Castlelake and MidCap Financial.

Marco’s mission is to empower small and medium-sized exporters across Latin America to sell their goods to partners in global markets. Its platform makes it quick and easy for these businesses to get the money they need to expand and grow.

With this funding, Marco will expand its client base and portfolio, while also bolstering its trade finance platform and a suite of trade services.

“Our goal is to enable Latin American SMEs to sell their goods globally by providing them with the necessary support.” Said Jacob Shoihet, co-founder and CEO of Marco.

Since launching in 2020, Marco has financed $275 million across 25,000 invoices with no losses, achieving a compound annual growth rate of over 1,500% between 2021 and 2022. In 2022, the company lent $100 million to businesses in Latin America. Marco plans to fund $750 million by the end of 2023 across the US, Mexico, Ecuador, Colombia, and Peru.

Read more on Refresh Miami.

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