Mexico-Brazilian company Merama becomes a unicorn

Merama, a Mexican and Brazil based company that acquires or launches Latin American digital brands has become a unicorn after hitting a $1.2 billion valuation just 12 months after incorporation. They achieved unicorn status in a $60 million follow-on round of financing led by Advent International and Softbank. This last financing was achieved through the combination of $345 million in investment and $100 million in debt. 

Merama’s CEO Sujay Tyle said in a statement that “Latin America is the fastest growing e-commerce region in the world yet brands are extremely nascent or non-existent (…) Merama believes several multi-billion dollar brands will be created in LatAm over the next five years.”

The company has to this date more than 180 employees and its portfolio has 20 brands that are based in Mexico, Brazil, Chile, Colombia and Peru. This latest funding will allow Merama to expand its operations into Argentina and the United States.

Learn more about this news in Techcrunch

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