Merama Revenue, Valuation, Funding & Investors
Merama is valued at $1.2B as of April 2025.
Last Merama valuation
$1.2B
Undisclosed stage · Apr 2025
Last Merama funding round
$45M
Undisclosed stage · Apr 2025
Merama revenue
$250M
Series B · Dec 2021
Key investors in Merama
MONASHEES
SoftBank Group
Balderton Capital
Valor Capital Group
Advent International
MAYA Capital
About Merama
Merama acquires and scales e-commerce brands across Latin America, providing operational support and capital from Mexico City headquarters. Founded in 2020, the platform consolidates direct-to-consumer sellers in categories like beauty, home goods, and pet supplies, operating in Mexico, Brazil, and Colombia. Merama optimizes logistics with warehouses in São Paulo and Mexico City, driving growth for acquired brands through shared marketing and supply chain expertise.
Founded
2020
HQ
Mexico CityWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Investment management
Revenue
$250M (Dec 2021)
Valuation
$1.2B (Apr 2025)
Merama Valuation
Merama is currently valued at $1.2B, based on its undisclosed-stage round in April 2025.
The $45M round included Balderton Capital, SoftBank Group, Marcel Herrmann Telles, Advent International, Valor Capital Group and 1 other investor.
Merama's valuation has grown 6.0x from $200M at its Series A in April 2021 to $1.2B in April 2025, across 4 priced rounds.
Merama valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2025 | Undisclosed stage | $1.2B | - |
| Dec 2021 | Series B | $1.2B | 4.8x |
| Sep 2021 | Series B | $850M | 3.4x |
| Apr 2021 | Series A | $200M | 2.0x |
Merama Revenue
Merama's latest recorded revenue is $250M, as of its Series B in December 2021. At a $1.2B valuation, that implies a 4.8x revenue multiple.
Revenue grew from $100M in April 2021 to $250M in December 2021, while the revenue multiple moved from 2.0x to 4.8x.
Merama revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2021 | $250M | $1.2B | 4.8x | Series B |
| Sep 2021 | $250M | $850M | 3.4x | Series B |
| Apr 2021 | $100M | $200M | 2.0x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Merama Funding History
Merama has raised a total of $394M across 5 funding rounds.
Merama's first fundraising round was a $60M Series A in April 2021. The most recent completed round was a $45M undisclosed-stage round in April 2025.
Merama funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2025 | Undisclosed stage | Balderton Capital; SoftBank Group; Marcel Herrmann Telles; Advent International; Valor Capital Group; MONASHEES | $45M | $1.2B | Merama is a leading Latin American e-commerce holding company based in Mexico City and São Paulo, partnering with e-commerce brands across categories like supplements, beauty, furniture, kitchen, home, and baby products. Its portfolio includes six key brands such as Growth Supplements, Mercadazo (omnichannel e-commerce), and Oceane (beauty), having acquired over 20 brands. Originally modeled like Thrasio as an aggregator since 2020, Merama has evolved into a holding company providing technology, logistics, operations, and strategic support to empower founders while retaining their operational control. In April 2025, Merama raised $45 million in equity from existing investors Advent International, SoftBank, Monashees, Valor Capital Group, Balderton Capital, and new investor Marcel Herrmann Telles (3G Capital founder), alongside $170 million in debt financing led by BTG Pactual, Citi, and Itaú, totaling $215 million. This follow-on round supports working capital, expansion of manufacturing and logistics capabilities, and strategic acquisitions for its brands. Over five years, Merama has raised more than $520 million in venture capital and debt, including $80 million from J.P. Morgan in 2024. Merama achieved unicorn status in 2021 with a $1.2 billion valuation, and post-2025 round valuation remains undisclosed but confirmed above $1 billion. In 2024, it reported 30% sales growth, down 10% from 2023, with plans to report growth by brand starting 2025 due to varying rates. The funding strengthens its position in Latin America's e-commerce market amid regional capital flows reaching $7.74 billion in 2025. |
| Mar 2023 | Seed | MONASHEES (lead) | $4M | - | Merama's documented capital raises occurred at different times: a Series A in April 2021 led by Valor Capital, Monashees, and Balderton Capital ($60M equity plus $100M debt at over $200M valuation), and a Series B in September 2021 co-led by Advent International and SoftBank ($225M at $850M+ valuation). The company has subsequently raised additional debt financing in 2024-2025. |
| Dec 2021 | Series B | Advent International (lead); SoftBank Group (lead); BroadLight Capital | $60M | $1.2B | Merama is a leading e-commerce aggregator in Latin America, partnering with and acquiring stakes in direct-to-consumer brands across Mexico, Brazil, Chile, Peru, Colombia, and the U.S. to accelerate growth through capital investment, technology, supply chain optimization, marketing, and expansion. In September 2021, it closed a $225 million Series B round co-led by Advent International and SoftBank, with Globo Ventures also participating, following an initial close led by SoftBank and a subsequent one by Advent. The round brought the company's post-money valuation to approximately $850 million, affirming its rapid scaling in a fragmented market. By late 2021, Merama's portfolio of over 20 brands was on track to generate more than $250 million in consolidated revenue for the year while maintaining high profitability, demonstrating strong traction shortly after the funding. The capital was earmarked to pay down debt, acquire additional selective brands from a robust pipeline, complete its technology platform, and provide working capital to portfolio companies. Previously, Merama had raised a $60 million seed and Series A combined with $100 million in debt. Investors highlighted Merama's experienced founding team, including CEO Sujay Tyle and CFO Felipe Delgado, with proven M&A expertise and a focus on value creation levers. The round positioned Merama as a key player in Latin America's underpenetrated e-commerce sector, enabling further consolidation and growth. It became Mexico's latest unicorn around this period, reaching unicorn status in under 12 months. |
| Sep 2021 | Series B | Advent International (lead); SoftBank Group (lead); Bienville Capital; Balderton Capital; Globo Ventures; Rhombuz VC; Concentric; MAYA Capital; Valor Capital Group; MONASHEES | $225M | $850M | Merama is a leading acquirer and builder of direct-to-consumer e-commerce businesses in Latin America, founded in December 2020. It acquires majority stakes in category-leading online merchants across Mexico, Brazil, Chile, Peru, Colombia, and the U.S., while allowing founders to retain ownership. Merama supports these brands with e-commerce expertise, working capital, technology tools for automation, and expansion into direct-to-consumer channels and new markets. In September 2021, Merama raised $225 million in an all-equity Series B round co-led by Advent International and SoftBank, with participation from Globo Ventures, Bienville Capital, Concentric, MAYA Capital, MONASHEES, Rhombuz VC, Balderton Capital, and Valor Capital Group. The round valued the company at approximately $850 million post-money and was more than 3x oversubscribed. Proceeds were intended to pay down debt, acquire more brands, complete its technology platform, and provide working capital to portfolio companies. At the time of the Series B, Merama had stakes in over 20 brands expected to generate more than $250 million in consolidated revenue in 2021 while remaining highly profitable. The company had dozens more brands in its selective pipeline. This followed a $160 million seed/Series A in April 2021 ($60M equity + $100M debt) at over $200M valuation, where partner brands were projected to exceed $100 million in sales that year. Merama positions itself as the leading e-commerce aggregator in Latin America, targeting a fragmented, underpenetrated market. Investors highlighted the team's M&A experience from Amazon, Mercado Libre, and others, along with strong momentum just months after launch. By late 2021, total funding reached $445 million ($345M equity, $100M debt). |
| Apr 2021 | Series A | Balderton Capital; Rhombuz VC; Pierpaolo Barbieri; Guilherme Bonifacio; Concentric; MAYA Capital; Valor Capital Group; MONASHEES | $60M | $200M | Merama is a Latin America-focused e-commerce startup founded in December 2020, aiming to become the largest e-commerce product business in the region by partnering with sellers on platforms like Amazon and Mercado Libre to accelerate growth through investments in working capital, expertise, and technology. On April 28, 2021, it raised $60M in combined Seed and Series A equity funding led by Monashees, Valor Capital Group, and Balderton Capital, plus $100M in debt, at a valuation well over $200M. Additional investors included Concentric (via Triplepoint Capital), Guilherme Bonifacio, MAYA Capital, Pierpaolo Barbieri, Rhombuz VC, and CEOs from Loggi, Uala, Rappi, and Madeira Madeira. Despite its recent founding, Merama's partners were projected to generate over $100M in sales across Mexico, Brazil, Argentina, and Chile in 2021, more than double the previous year, with the company operating profitably. The funds were earmarked primarily for initial investments in brands, marketing, technology tools to boost growth, working capital for inventory, and product innovation. Merama collaborates with major platforms to professionalize and scale existing sellers. A TechCrunch article from June 2021 confirmed the Series A valued the firm at more than $200M, noting strong inbound interest for a follow-on Series B. |
Who has invested in Merama?
14 investors have backed Merama across its funding rounds, including MONASHEES, SoftBank Group, Balderton Capital, Valor Capital Group, Advent International and MAYA Capital.
Lead investors include MONASHEES, Advent International and SoftBank Group.
Merama Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 São Paulo | 4 | Lead | Apr 2021 | |
 London | 3 | Participant | Apr 2021 | |
 Tokyo | 3 | Lead | Sep 2021 | |
 Boston, MA | 3 | Lead | Sep 2021 | |
| New York City, NY | 3 | Participant | Apr 2021 | |
| San Francisco, CA | 2 | Participant | Apr 2021 | |
| London | 2 | Participant | Apr 2021 | |
| São Paulo | 2 | Participant | Apr 2021 | |
| Los Angeles, CA | 1 | Participant | Dec 2021 | |
| New York City, NY | 1 | Participant | Sep 2021 | |
| Rio de Janeiro | 1 | Participant | Sep 2021 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Marcel Herrmann Telles |  St. Gallen | 1 | Participant | Apr 2025 |
This data is available for Pro users. Sign up to see all 14 Merama investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Merama
Merama has acquired 2 companies to date.
Last acquisition by Merama was on June 22nd 2022. Merama acquired Miind Brands for undisclosed valuation.
Latest Acquisitions by Merama
| Description | Miind Brands is Latin America's first house of digital native brands focused exclusively on the fast-moving consumer goods sector. The Mexico City-headquartered company has launched more than 14 brands in vitamins and supplements, personal care, and beauty categories. It leverages proprietary technology across supply chain management, research and development design, marketing automation, and sales platforms to drive growth. Achieving over $4 million in annual recurring revenue within 18 months, Miind Brands maintains positive EBITDA exceeding 20 percent through omnichannel distribution on Amazon, Mercado Libre, direct-to-consumer sites, and offline retailers in Mexico and the United States. | Culotte is a Santiago-based online retailer specializing in women's intimate apparel including panties, bras, shorts, and loungewear. Launched in 2015, it offers over 500 SKUs from international brands like Calvin Klein and Triumph alongside private-label collections made in Chile. The company operates a direct-to-consumer e-commerce site with nationwide delivery and pop-up stores in major cities. Culotte generates annual sales exceeding $5 million and serves more than 50,000 customers through subscription boxes and seasonal collections focused on comfort fabrics like cotton and modal. |
| HQ Country | |  |
| HQ City | Mexico City | Clodomira |
| Deal Date | 22 Jun 2022 | 22 Jun 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Merama acquisitions and their M&A valuation multiples. Start Free Trial | ||
Merama Competitors
Merama competitors include listed companies like Tuhu Car and GoodRx, and private ones like Yiguo.com, Purplle, Yijiupi and NOME.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Shanghai | Private | - | - | $1.2B | - | |
| China | Publicly listed | $2.5B | $84M | $1.2B | 0.2x | |
| United States | Publicly listed | $797M | $173M | $1.2B | 1.8x | |
 India | Private | $73M | $9M | $1.3B | 17.8x | |
| Wuhu | Private | - | - | $1.1B | - | |
| Guangzhou | Private | - | - | $1.1B | - |
Merama Public Comps
Merama is still privately-owned, but its public comps include Tuhu Car, GoodRx, Gold.com, Syoung Group, Moonpig Group, E-MART, Hepsiburada, Sailvan Times, Revolve Group and DeNA.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.5B | $84M | 0.3x | 0.2x | 7.6x | 7.8x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $26B | $180M | 0.0x | 0.0x | 5.3x | 5.2x | |||
| $742M | $45M | 2.0x | 1.9x | 32.4x | 24.9x | |||
| $501M | $140M | 2.3x | 2.3x | 8.2x | 8.2x | |||
| $21B | $1.6B | 0.5x | 0.5x | 6.4x | 8.6x | |||
| $1.7B | ($51M) | 0.5x | 0.3x | (15.8x) | 28.7x | |||
| $1.8B | $86M | 0.7x | 0.7x | 15.2x | 12.4x | |||
This data is available for Pro users. Sign up to see all Merama competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Merama
| When was Merama founded? | Merama was founded in 2020. |
| Where is Merama headquartered? | Merama is headquartered in Mexico City, Mexico. |
| Is Merama publicly listed? | No, Merama is a private, VC-backed company. |
| What is Merama's valuation? | Merama was last valued at $1.2B in its undisclosed-stage round in April 2025. |
| How much funding has Merama raised? | Merama has raised $394M across 5 funding rounds. |
| What was Merama's last funding round? | Merama's last funding round was a $45M undisclosed-stage round in April 2025. |
| Who are Merama's investors? | Merama's investors include MONASHEES, Balderton Capital, SoftBank Group, Advent International, Valor Capital Group, Rhombuz VC, Concentric, MAYA Capital, BroadLight Capital, Bienville Capital and 4 others. |
| What is Merama's revenue? | Merama's latest recorded revenue is $250M (December 2021). |
| What is Merama's revenue multiple? | Merama's latest valuation implies a 4.8x revenue multiple ($1.2B valuation on $250M of revenue). |
| Which companies are comparable to Merama? | Companies comparable to Merama include Yiguo.com, Tuhu Car, GoodRx, Purplle, Yijiupi and NOME. |
| How many companies has Merama acquired? | Merama has acquired 2 companies, including Miind Brands and Culotte. |
See companies similar to Merama
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.