LatamList – Merama, an e-commerce startup, announced a $160M funding round. The startup is already receiving interest for its Series B.
The investment was led by Valor Capital and Monashees. TriplePoint Capital and the CEOs of Ualá, Loggi, Rappi, and Madeira Madeira also participated in the rounds.
Merama partners with e-commerce product sellers in Latin America to help them grow their businesses. The startup purchases a stake in the businesses and works closely with them to provide expert advice and working capital to boost growth and development.
“We will work with very few brands at one time, and only the best. Our entire team gets on board to scale and expand these few businesses,” said Sujar Tyle, co-founder and CEO of Merama.
The Merama team draws expertise from its impressive catalog of experience to help businesses maximize their potential. The team includes e-commerce leaders from companies such as Amazon, Mercado Libre, and Facebook.
E-commerce in Latin America has boomed in the past few years, and especially during the pandemic. It is currently estimated at $85B with a projected growth to $116.2B in 2023.
“Merchants are seeing hyper growth but still struggle with fundamental problems, which creates a ceiling in their potential,” said Tyle. “This is where Merama comes in.”
The funding will be used primarily to partner with new brands, investing in their platform, and for working capital for product innovation.
Read more on Forbes and TechCrunch.
