Merqueo Holdings, which operates an online grocery delivery platform in Colombia and Brazil, filed on Tuesday with the SEC to raise up to $14 million in an initial public offering.
Through its mobile applications, Merqueo offers its customers a selection of grocery products including fresh produce, meat, dairy, frozen packaged foods, house cleaning supplies, and personal hygiene care. After inventory is purchased directly from brands, manufacturers, and local farmers, it is then transported to warehouses to be sorted and stored until items are ready to be delivered by third-party service providers directly to the customers’ doors. In 2019, the company also introduced a private label option to customers in Colombia with 31 private label brands offering a total of 254 active products.
The Bogotá, Colombia-based company was founded in 2015 and booked $35 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol MERQ. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.
