IDB Invest boosts electronic grocery shopping and job creation with Merqueo in Mexico, Colombia and Brazil

Merqueo, a market leader in the integrated online grocery distribution market in Latin America, with operations in Mexico, Colombia and, most recently, Brazil, has received financing for a total amount of $22 million. The financing scheme includes a $4 million mezzanine tranche from IDB Invest and $18 million mobilised by Blue like an Orange Sustainable Capital.

The objective of the financing is to support Merqueo’s expansion in Brazil and improve its technology platform, fostering retail supply chain growth and job creation. The company will increase purchases from local suppliers in Brazil, 80% of which are micro, small and medium-sized enterprises (MSMEs). It will also boost job creation, with plans to hire more than 2,000 workers by 2025.

IDB Invest will provide advisory services to Merqueo to develop a robust and feasible sustainability strategy to better identify, manage and measure environmental, social and governance (ESG) issues in its operations in Brazil, Colombia and Mexico.