Marco Adds Two New Clients to SME LATAM Roster

Fintech startup Marco kicks off the week with the acquisition of new clients in Mexico & Ecuador, adding to its growing roster of Latin American SME clients. An Ecuadorian fruit exporter and a Mexican logistics company have partnered with the young fintech in order to expand their international trade finance facilities.

The Mexican logistics company with clients throughout Latin America, moves products for multinational companies worldwide. With the high cost of logistics due to the pandemic and clients asking for 90 days, more capital was needed for continued growth. The success of this company is growing fast and Marco’s $800K credit line is forecasted to expand quickly based on the business they foresee in the short term.

Separately, Marco’s $350K line provides a solution to a liquidity problem experienced by an Ecuadorian fruit exporter. The company was lacking the capital needed in order to continue paying suppliers in cash and move forward with its year round exports to the United States. Marco’s factoring tool was leveraged and rates were adjusted to this company’s particular needs, beating out a competitor for lower rates in the process. John Spradling, Marco’s Director of LatAm Growth added “the professionalism brought forth from the team in Ecuador allowed us to move forward swiftly, especially since factoring was essential in order to keep the business afloat.”

Marco’s COO and co-founder, Peter D. Spradling commented, “It gives me a great deal of personal satisfaction when we can assist companies (specifically SMEs) with their growth initiatives.  We are proud to have earned the trust of various new partners in Latin America. From small exporters in LatAM to larger businesses in the U.S. and Canada, Marco has proven that it can provide customized solutions.”

ABOUT MARCO

Marco is on a mission to simplify and accelerate cross-border trade by providing reliable working capital for SMEs in the United States and Latin America. Marco addresses the $350 billion financing gap in Latin America by developing an innovative and proprietary risk model that processes data in real-time to dynamically assess risk and mitigate capital loss. Its factoring approach to trade finance reduces risk and frees up cash, enabling underserved SME exporters to continue operations and invest in growth. Founded in 2019 by Peter D. Spradling and Jacob Shoihet, Marco is headquartered in Miami, FL, with offices in New York, Dallas, and Montevideo. For more information on how Marco can help power your business with working capital, please visit marcofi.com.