Colombian e-commerce startup Melonn announced the closing of a $20 million Series A round. The startup provides logistics and software services to small and medium-sized e-commerce companies in Latin America — mainly in Mexico and Colombia.
Melonn’s Series A was led by QED Investors and Global Founders Capital (GFC). Funds NFX, Pear and Wollef (formerly Jaguar Ventures) also participated, as well as high-profile angel investors. In less than a year, the company has already raised around $24 million.
READ ALSO: 180° Seguros snags $31.4 million in 8VC-led Series A to disrupt Brazil’s insurance market
The company seeks to become the number one ally of small and medium-sized e-commerce companies in Latin America, by providing world-class technology and logistics. With the support of Melonn, any digital commerce business is expected to be able to sell its products through multiple channels, from Amazon to Instagram, and deliver them almost anywhere in the region easily and quickly.
Melonn aims to use the funds to grow the technology and product teams to continue to strengthen the platform and develop new adjacent products, including financial services. The company also plans to expand its commercial capabilities and increase its network of warehouses to be able to offer efficient same-day or next-day deliveries in more and more cities in the region.
READ ALSO: Brazilian AgroForte raises BRL 6 million to expand credit offer for rural producers
“The capital we have raised will be used to strengthen our value proposition through technological innovations that allow us to have a more robust platform, complement our portfolio of products available to customers, scale the business model to other countries of the region and consolidate the markets in which we operate today through the opening of warehouses in locations such as Guadalajara and Monterrey in Mexico; and Barranquilla, the Coffee Region and Bucaramanga in the case of Colombia.”, explained Andrés Gómez, CEO and co-founder of Melonn.
The company also plans on generating more than 800 jobs, multiply its storage space by 6 and have more than 2,000 customers.
“Having this Series A, led by QED and GFC, not only brings us great experience in key topics such as enabling e-commerce and financial technology, but also brings us great partners and mentors who will help us scale successfully and with assertiveness. A very aggressive expansion plan is coming, not only in Colombia and Mexico, but also in other countries in the region”, added Daniela Uribe, General Manager of Melonn Mexico.
READ ALSO: Mexican unicorn Kavak arrives in Rio de Janeiro and promises an investment of BRL 550 million in the Brazilian state
“Melonn facilitates the growth of its clients, solving real barriers between the sales channels and the final clients. As Melonn continues to expand its platform, the company will enable the next generation of ecommerce business in Latin America,” said Mike Packer, partner at QED Investors.
Until a few years ago, the Latin American region was considered a late adopter of electronic commerce. However, in the last five years, and more recently with the impact of COVID-19, this has changed dramatically. Today, Latin America is the region with the fastest growing e-commerce market, estimated at more than $100 billion, and it is expected to double by 2025 and reach a value of $1 trillion in the next two decades. More than 80% of the market is made up of small and medium-sized companies/vendors.
This post was last modified on February 2, 2022 6:56 pm
XP's digital account will be available to the investment platform's whole client base by October
The election of Gustavo Petro is indicative of widespread yearning for a more equal and…
Artificial intelligence and financial planning startup Olivia will cease operations on July 15; Olivia's infrastructure…
Rappi will offer deposit and savings products by the financial entity RappiPay, a joint venture…
Asian e-commerce phenomenon which has a strong presence in Brazil announced layoffs in Mexico, Argentina,…
Brazil is hoping to get a slice of the rapidly-growing small satellite launch market by…