Marathon
Dalagatan 7, Stockholm, Stockholms Län, 111 23, Sweden
Overview
Marathon is an early-stage B2B focused fund that invests in Latin American startups. Our mission is to maximize the potential of top talent in the region. We back startup alumni or proven executors, solving problems across emerging markets. More than a fund, we also operate as a talent hub helping entrepreneurs and companies across various stages with strategic talent acquisition. We complement our portfolio with a team of operators and world-class advisors like Joe Lonsdale (Palantir/8VC), and Felipe Villamarin (Rappi).
- Total investments
- 10
- Lead investments
- 3
- Investments · 12mo
- 2
- Active investors
- 3
Sector focus
- E-Commerce
- FinTech
- Marketplace
- SaaS
- Software
Investment portfolio
- Pitz
Participated · Seed · May 2026
Pitz offers a specialized operating platform for automotive repair shops that centralizes diagnostics, administration, parts procurement and logistics. Its technology includes an AI-powered virtual assistant that converts voice-described faults into repair plans and a marketplace with more than one million SKUs for parts sourcing. The company serves over 1,400 connected workshops and aims to reach more than 8,000 by 2026. Pitz has prioritized Brazil as its main growth market, establishing a fully local team there, and is preparing a formal entry into the United States targeting Latino independent auto communities. The startup will use the recent funding to bolster its AI capabilities and accelerate regional and U.S. expansion. The company was founded by Natália Salcedo, a former Rappi and Jokr executive.
- Mercury
Participated · Series C · Mar 2025
Mercury offers integrated banking services and finance tools—cards, invoicing, bill pay, spend management, real-time insights, and intelligent categorization—aimed at helping startups run their finances in one place. The company reports more than 300,000 customers, including roughly one in three U.S. startups, and reached $650 million in annualized revenue in Q3 2025. Mercury has delivered four consecutive years of profitability on both GAAP net income and EBITDA measures and saw a 2.5x increase in applications in Q1 2026 versus Q1 2025. Recent product expansions include Mercury Insights (an in-product AI financial tool), the Model Context Protocol (MCP) for secure model access, a command-line interface (CLI), and the acquisition of Central to add AI-native payroll. Mercury expanded Mercury Personal to qualified U.S. applicants and plans to introduce Mercury Command later in the year, an in-account AI workflow for end-to-end financial tasks. The company also announced conditional OCC approval to establish Mercury Bank, N.A., which it says will enable services like Zelle, expanded lending products, and deeper payments infrastructure.
- Boon
Led · Series A · Dec 2024
boon provides an AI platform for commercial fleets that uses Large Language Models and AI agents to replicate and assist worker tasks within a week. The platform integrates with existing logistics software—including fuel card, TMS, telematics, ERP, WMS, and ELD providers—to act as a system of engagement for revenue and operations teams. Key automation use cases include order entry, load sourcing, compliance, fuel optimization, and appointment scheduling. boon’s AI agents combine deep industry knowledge with business context to reduce operating expenses and increase revenue. The company already works with dozens of customers serving 33,000 drivers across 6,800 vehicles and has delivered 170,000 loads. boon plans to use the new funding to grow its engineering and go-to-market teams over the next 18 months.
- Atlas Card
Led · Series B · Dec 2024
Atlas operates a members-only concierge service and charge card that aims to deliver access to coveted experiences alongside a seamless spending experience. The company announced a $40 million Series C at a $420 million valuation in April 2026. Investors in the round included lead backers Elad Gil and Verified Capital, as well as 01 Advisors, Marathon Management Partners, and others. Legal counsel on the transaction was Wilson Sonsini Goodrich & Rosati, which advised Atlas through a team led by Rob Broderick. The public reporting does not disclose revenue, user counts, or specific go-to-market metrics. The company also did not disclose detailed plans for the proceeds in the coverage.
- Prima
Participated · Equity · Dec 2024
Prima is a Mexico City-based, technology-first manufacturing and supply chain integrator focused on creating a reliable procurement experience for North American companies. Through proprietary capabilities across operations, procurement and engineering, the firm orchestrates an ecosystem of service providers to streamline sourcing. Prima leverages a proprietary quoting engine and a closed system of first-party and partner factories to optimize cost-quality parameters, expand capacity and reduce lead times. The company also manages logistics across trade terms, performs testing and inspections, resolves quality issues, and handles end-to-end procurement including design and feasibility challenges. Prima was founded by Juan Pablo Ramos, Daniel Autrique, and Patricio Servitje. It raised $23M in the most recent round, bringing total funding to $42.5M, and intends to use the proceeds to expand its operations and business reach.