Mercadoni ( www.mercadoni.com.mx / www.mercadoni.com.co ), the leading online shopping platform that allows customers to purchase from stores and supermarkets from the comfort of their home with products delivered in less than an hour in Mexico and Colombia, has received the support of the international investment firm Axon Partners Group ( www .axonpartnersgroup.com ) in a USD 2 million funding round. With this investment, Axon Partners Group continues to consolidate its position as a specialized international investor in the digital economy sector that combines in international presence with the knowledge of the local reality, thanks to the local team of professionals in Mexico and Colombia.
The investment, which is carried out through Axon’s Amerigo Pacific Ventures fund vehicle, will be mainly used to consolidate Mercadoni’s position as leader in Mexico and Colombia.
Mercadoni began operations at the beginning of 2015 and with operations currently in Mexico and Colombia, it has been considered one of the fastest growing internet companies in Latin America during 2015. Mercadoni allows customers to buy any product from any store or supermarket with the guarantee of being delivered within one hour. The platform gathers the products of the best brands from the major retail chains in Mexico and Colombia. Once the order has been placed, a huge fleet of drivers are available to accept and make the delivery in a record time. Mercadoni counts on more than 50 store providers and has created more than 250 jobs and 500 more are expected to be generated over the next 3 months. So far, they have delivered more than half a million products with a run rate in sales of USD 4 million. This business model is having considerable success globally, especially in the United States and Europe, where mobility in big cities is a real challenge. The service is available on the company website as well as iOs and Android mobile applications .
Alfonso de León, Managing Partner of Axon Partners Group, comments: “We are very impressed by the achievements to date of Mercadoni, and the speed of the team, growing at an exceptional pace. From establishing high-rate operations to the huge potential of the team and its corporate standards. In Mercadoni, we have found an amazing team of entrepreneurs such as Antonio and Pedro, who have demonstrated an impressive ability to expand internationally.”
Mercadoni was founded in 2015 by Antonio Nunes and Pedro Freire. Both have extensive experience in online companies, having formed part of the teams of Zalora in Asia in 2011 and Linio LATAM, the largest ecommerce in Latin America, as of 2012.
Pedro Freire, founder of Mercadoni says: “To have Axon as an investor is the result of a lot of hard work from the team that has accelerate the process of the operation. With this investment we hope to strengthen our relationship with our allies, to expand to new cities and continue improving the customer experience. We are really excited of working with the excellent team of Axon”
Amerigo Pacific Ventures is the Private Equity Fund launched by Axon in 2013 that concentrates its investments in LatAm, investing in local companies in the digital economy sector with the potential for international expansion. In addition to Mercadoni, the fund also has three digital Colombian companies in its portfolio: Enmedio, O4IT, and RedSeguro, and had the successful investment and exit of ClickDelivery (or Domicilios.com). The ClickDelivery investment was made in 2013 and exited in just over a year later, generating more than 500% IRR for investors. This agreement will also allow Mercadoni in its development and expansion to other international markets, where Axon has extensive experience and knowledge.