Marco, a Miami, FL-based provider of a tech-enabled trade financing platform, raised $8.2M in Equity funding and received a $200M Credit facility.
MidCap Financial and Castlelake provided the debt financing.
Arcadia Funds led the equity round.
The company intends to use the funds to expand its trade finance platform and suite of trade services.
Founded in 2020 by Peter D. Spradling (COO) and Jacob Shoihet (CEO), Marco is a provider of a tech-enabled trade financing platform built for small and medium-sized businesses in Latin America and the United States. It acts as an operating system for SMEs in trade in LatAm addressing the lack of liquidity and tools they need quickly, and during bear market cycles.
The credit facility and equity financing follow a year of significant growth for the three-year-old fintech company. Last year, Marco lent $100M, and has financed over $254M with zero losses since inception and saw 1,500%+ CAGR in funding between 2021 and 2022. The company aims to fund $750M by the end of 2023, focusing on target segments in the U.S. and across LatAm, specifically in Mexico, Ecuador, Colombia, and Peru, where total exports exceed $490 billion.
The Miami-based fintech also has offices in Montevideo and New York.
