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Advisor News

junio 2022

Why did Colombia's Merqueo leave Mexico?

The Colombian online supermarket Merqueo closed its operations in Mexico on June 8, after announcing last April that its total sales in the country during 2021 grew 10 times. The company received US$22 million in financing from BID Invest in May.

The startup’s exit from the Mexican market, which it entered at the end of 2019, comes after several Latin American startups announced a downsizing and some of the Venture Capital funds with the most investments in the region recommended their portfolio companies to adopt a more conservative strategy.

Merqueo is leaving Mexico at a time when Venture Capital investment is beginning to decline compared to previous years. The venture capital market in Mexico registered an aggregate value of US$1.405 billion so far this year, a drop of 7.74% compared to the same period in 2021, according to data from the Transactional Track Record (TTR) analysis platform.


Source: Advisor News  


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