LatamList – Meru.com, a online trade platform, raised a $2.4M funding round led by Mountain Nazca and various private investors. Additionally, the startup announced its acceptance for the 2021 Y Combinator program.
Meru.com aims to reduce trade fraud by connecting SMEs in Latin America to reliable manufacturers in Asia. Companies can buy their chosen amount of products in their own currency from Asian countries with a safe arrivals guarantee.
“Up to 80% of SMEs that import from Asia are victims of fraud at some point. This is what spurred us to create Meru.com, a platform that connects Latin American SMEs to Asian markets,” explained Manuel Rodriguez, co-founder of Meru.
Meru.com currently operates 17 goods categories on its platform, amounting to 1,000 different products from around 100 factories in China. With the new funding the startup will look to build its team of employees, improve the platform’s software, and establish a stronger presence in Asia with the opening of new heads in Ningbo and Shenzhen.
Read more on Forbes.