Merqueo-Equity (IDBI-13219-01)

Countries
  • Colombia
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 31, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Merqueo SAS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Feb 17, 2021

Disclosed by Bank Nov 20, 2020

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

IDB Invest is considering an investment of up to US$10 million in Merqueo S.A.S. (the “Company”). Launched in 2017, Merqueo is a grocery e-commerce platform (“e-grocery”) offering grocery delivery services in Colombia and Mexico. The Company is a 100% digital player with no physical stores, and it is considered a pureplay as it controls the entire operation, including the technology platform, product sourcing, warehouse operations and final deliveries.

 

During the COVID-19 emergency crisis, online platforms such as Merqueo have become a key tool for the general population as e-grocery offers one of the safest alternative for everyday purchases. The capital round will allow Merqueo to support its growth plan as follows: (i) finance current operations to support expected growth through investments in technology, warehouses, marketing, and human resources, among others; (ii) consolidate and promote its regional expansion.

 

The objectives of investing in Merqueo are (i) increase the sale of product via e-grocery platforms, (ii) foster the growth of the retail supply chain, (iii) improve access to basic products and (iii) to  promote the adoption of e-grocery in low income segments.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Merqueo S.A.S Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For questions about the Project please contact:

Name: Laura Oyuela

Títle: CFO

Telephone: +57-3153105644          

E-mail: oyuela@merqueo.com      

 

For questions and comments to IDB Invest, please contact:

Name: Grupo de Comunicación de BID Invest

E-mail: requestinformation@idbinvest.org

 

In addition, affected communities can access IDB Invest’s Independent Consultation and Investigation Mechanism (ICIM) as follows:

Telephone: +1 (202) 623-3952

Fax Number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

E-mail: mecanismo@iadb.org o MICI@iadb.org

How it works

How it works