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Thursday, April 18, 2024
HomeFinance NewsMarco secures $12 million to bolster Latin American trade finance efforts.

Marco secures $12 million to bolster Latin American trade finance efforts.

Miami-based trade finance platform, Marco, has successfully secured $12 million in a Series A round of funding. The main objective of this funding is to provide support for small and medium-sized entrepreneur (SME) exporters in Latin America. The company aims to revolutionize trade finance in the region by addressing the challenges faced by SMEs in securing essential financing for growth.

Co-founded by Peter Spradling and Jacob Shoihet in 2020, Marco offers an operating system specifically designed for Latin American SME exporters involved in cross-border trade. This system provides access to financing and various services tailored to meet the unique challenges faced by SMEs. With tools ranging from LLC formation, bookkeeping, foreign exchange payouts, cargo insurance, to banking services, Marco aims to streamline trade processes and minimize risks for SMEs.

This recent Series A funding round comes on the heels of a $200 million line of credit announcement and an $8 million equity investment made by Marco last year. As the trade finance landscape undergoes significant changes marked by increased efficiency, transparency, and security, digital trade platforms like Marco are becoming centralized hubs that bring together key stakeholders in the trade ecosystem. The demand for seamless integration of trade financing within technological infrastructure linking buyers and suppliers highlights a growing need for digital solutions in the evolving trade finance industry.

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