MICROCAPITAL BRIEF: Arcadia Funds, Kayyak Ventures Lead $82m Credit, Equity Package for Marco, Financier of SME Exports from Latin America to US

US-based Arcadia Funds and Chile-based Kayyak Ventures recently led a funding package totaling USD 82 million in favor of Marco, a US-based company that funds exports to the US from small and medium-sized enterprises (SMEs) in Latin America. Twelve other investors also participated in the package, which consists of a quadrupling of the firm’s borrowing capacity to USD 100 million plus USD 7 million in seed funding.

Marco CEO Jacob Shoihet stated, “Now we can work… at a larger scale by building infrastructure and information through the underwriting process and through partnerships from larger players in shipping, trade services and insurance.”

Founded in 2019 and launched in 2020, Marco operates in approximately 20 countries.

Launched in 2012, Arcadia Funds manages investments, including through “buying and participating in direct lending products, owning revolving credit facilities, [and] providing capital for insurance linked securities.” Through mid-2021, the firm’s advisees have acquired USD 3.5 billion in secured and unsecured business, consumer and vehicle loans.

Chile-based Kayyak Ventures invests in “a handful of entrepreneurs per year in order to dedicate our full energy and heart to help… solve our biggest social and environmental challenges.” The firm focuses on Series A and seed equity funding in Latin America as well as being active in Europe and North America. Its initial investment in each company ranges from USD 1 million to USD 2 million. Recent information on the size of the firm is not available.

By Harriet Ritchie, Research Associate

Sources and Additional Resources

TechCrunch article
https://techcrunch.com/2021/07/13/marco-financial-raises-82m-seed-round-to-support-small-latin-american-exporters/

Marco homepage
https://www.marcofi.com/

Arcadia Funds homepage
https://www.arcadiafunds.com/

Kayyak Ventures homepage
https://www.kayyakventures.com/

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