Investors included Advent International LP, SoftBank Group Corp. and Valor Capital Group, which together invested a total of $45 million in Merama. Balderton Capital and Monashees Capital also participated in the funding round.
In addition to the new financing round, Merama also received a $170 million revolving credit facility from Banco BTG Pactual SA, Citigroup Inc. and Itau Unibanco Holding SA, denominated in reales, which extends an $80 million loan from JPMorgan Chase & Co. from April 2024.
“We raised this money to provide each of our six core businesses with significant amounts of working capital, as well as to expand their manufacturing and logistics capabilities,” Merama co-founder and CEO Sujay Tail said in an interview. “We can also use these funds for strategic acquisitions by our companies, potentially acquiring businesses that could complement our offerings.”
Founded five years ago, Merama helps e-commerce companies grow by investing and providing technology. It has acquired more than 20 e-commerce brands across Latin America and is now focusing on six that are “doing phenomenally well,” including Growth Supplements, the largest sports nutrition brand in Latin America.
Since its inception, Merama has attracted interest from several private equity and venture capital funds, raising $327 million in equity capital.
Source: Bloomberg
