Participated · Series C · Jul 2021

Merqueo operates a full-stack, on-demand online supermarket that sources directly from large brands and local suppliers and delivers from a network of dark stores. The platform offers more than 8,000 products spanning fresh foods, packaged goods, home essentials, beverages and frozen items. It currently operates in more than 25 cities across Colombia, Mexico and Brazil and serves over 600,000 users. The company reports being close to $100 million in run-rate revenue, grew more than 2.5x in 2020, and reached positive cash flow in Colombia, its most mature market. Merqueo has roughly 1,300 employees and says owning the vertical supply chain gives it better margins and healthy unit economics. The startup plans to use new capital to accelerate geographic expansion in Brazil (starting with Sao Paulo) and to build the largest dark-store network in Latin America.

Led · Debt Financing · Oct 2020

RobinFood (formerly MUY) operates as a cloud-restaurant platform that brings physical and virtual restaurants into a single corporate brand and plans to create virtual food courts and ordering kiosks. The company aims to increase access to affordable food across Latin America and reduce app fragmentation by consolidating restaurant offerings. It plans to use new capital to open more restaurants, expand in Mexico, enter Brazil, and open in additional Colombian cities, with a goal of placing ordering kiosks every 500 meters. Since Q1 2019 RobinFood has grown revenue tenfold and increased its number of food offerings and average ticket size. Founded in 2018 and led by co-founder and CEO José Guillermo Calderón, the company builds on his experience with Domicilios.com. MUY Tech is a technology platform focused on building tools to optimize restaurants' internal processes and customer interactions. The company operates a network of five company-owned restaurants in Colombia where it deploys its technology. MUY Tech plans to use new funding to accelerate development of its platform and scale efficiently. The company intends to consolidate its Colombian operations by opening more restaurants and to expand into Mexico in the second half of 2019, with further expansion planned across Latin American capitals. Founders José Calderón (CEO) and Miguel McAllister are serial entrepreneurs who previously founded Domicilios.com, which was acquired by Delivery Hero and later participated in that company's IPO. Financially, MUY Tech closed a $4 million financing led by Seaya Ventures and had previously raised a $1,000,000 angel round.