Marco secures $12M Series A to revolutionize LatAm SME Trade Finance

Since launching in 2020, Marco has surpassed $540M in cumulative volume funded, across 63k+ receivables and against 1,700+ primarily investment-grade debtors
PRNewswireMarch 19, 20246 min

Marco, the trade finance platform catering to the needs of SME exporters in Latin America, has announced the successful closure of a $12 million Series A funding round. The round was led by IDC Ventures, with additional participation from IDB Lab (the innovation and venture laboratory of the Inter-American Development Bank Group), Barn Invest, SquareOne Capital, Arcadia Funds, Florida Funders, Miami Angels, Kayyak Ventures, and Neer Ventures, among others.

Founded in 2020 by entrepreneurs¬†Jacob Shoihet¬†and¬†Peter D. Spradling, Marco has quickly established itself as a key player in the trade finance sector, with a team of over 50 employees across its offices in¬†Miami,¬†New York City, and¬†Montevideo, Uruguay. The company is committed to building the operating system for Latin American SME exporters engaged in cross-border trade ‚Äď providing them with fast, easy access to financing, and evolving to offer a comprehensive suite of services designed to address the unique challenges SMEs face.

“We are thrilled to enter this new phase of growth catapulted by the unwavering support of our investors who believe in our mission,” commented¬†Jacob Shoihet, co-founder and CEO of Marco. “We are looking to serve a cohort that has been historically underserved, offering a comprehensive platform that encompasses everything from financing to compliance and beyond. With our suite of solutions, including LLC formation, bookkeeping, FX payouts, cargo insurance, and banking services, we are supercharging SMEs in trade and ultimately creating an economy that works for everyone.”

Marco’s innovative approach to trade finance is addressing the¬†$350 billion¬†trade financing gap in¬†Latin America. By leveraging advanced, proprietary risk models that process data in real-time, Marco dynamically mitigates capital loss, having already surpassed¬†$540 million¬†in cumulative volume funded since inception across more than 63,000 receivables against 1,700+ primarily investment-grade debtors.

“It’s great to be part of the transformative impact Marco’s platform is having on the Latin American trade sector,” commented¬†Bobby Aitkenhead, Managing Director of IDC Ventures. “The overwhelming demand for Marco’s solutions highlights the critical need to modernize and automate operations for SME exporters in LatAm, who have been long constrained by a lack of financing as well as antiquated ‘pen and clipboard’ workflows. By centralizing operations and democratizing access to capital, Marco is not just facilitating business growth; it’s profoundly impacting lives by catapulting an entire region and industry into the digital age. Backed by an exceptional team and a clear vision for a better future, Marco shines as a beacon of welcome disruption, and we’re excited to support its journey.”

The platform offers a holistic 360¬į suite of products and services tailored to SMEs, including LLC creation, bookkeeping, banking, and financing tools such as factoring and asset-based lending. These services are designed to close the gap faced by LatAm exporters, who are often underserved by banks due to perceived risks associated with their lack of history and size. For the first time since 2003,¬†Mexico¬†is exporting more to the US than¬†China, highlighting the significant trend of nearshoring ‚Ästand Marco plays a crucial role in facilitating this shift.

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