Funded Commerce and Shopping Startups in Mexico City
These 23 funded companies in Mexico City's commerce and shopping sector span December 2020 through April 2025, with deal activity concentrated heavily in 2…
These 23 funded companies in Mexico City's commerce and shopping sector span December 2020 through April 2025, with deal activity concentrated heavily in 2022 and 2023 — 15 of the 23 rounds closed in those two years. The largest disclosed raise is Kavak's $810M debt financing round from September 2022, followed by Merama's $170M round in April 2025 and Fairplay's $100M raise in April 2023.
Early-stage rounds are well represented: five companies — Muralia, R3D, Avify, Devolut, and Perfekto — raised at the pre-seed level, with disclosed amounts ranging from $10K (Muralia, February 2025) to $1M (Perfekto, November 2022). Growth-stage raises include Aplazo's $70M Series B in May 2024, 99 Minutos' $82M Series C in March 2022, and Valoreo's $80M Series B in February 2022. Three companies — R3D, Devolut, and Creizer — have undisclosed round amounts.
Most recent rounds
23 shownRelated listings
Frequently asked
What are the largest disclosed rounds among these Mexico City commerce startups?
Kavak leads with $810M in debt financing (September 2022), followed by Merama's $170M round (April 2025) and Fairplay's $100M (April 2023). 99 Minutos ($82M Series C), Valoreo ($80M Series B), and Aplazo ($70M Series B) make up the next tier of disclosed raises.
Which companies used debt financing rather than equity rounds?
Kavak ($810M) and Clip ($50M) both closed debt financing rounds in September 2022, within two weeks of each other. No other company in this dataset used that structure.
When was funding activity highest in this segment?
Fifteen of the 23 rounds closed in 2022 or 2023, with nine in 2023 alone. Activity dropped to two rounds in 2024 — Aplazo and R3D, both in May — and 2025 has produced two rounds so far: Merama in April and Muralia in February.
How are early-stage rounds distributed across this group?
Five companies raised at the pre-seed stage — Muralia, R3D, Avify, Devolut, and Perfekto — with disclosed amounts ranging from $10K to $1M. Four seed-stage rounds also appear: Pacto ($4M, March 2023), MIDAS Technologies ($2M, August 2023), Vioo ($1M, June 2023), and Warehome ($50K, November 2021).
Which companies have reached Series B or later with disclosed terms?
Aplazo (Series B, $70M, May 2024), Valoreo (Series B, $80M, February 2022), and 99 Minutos (Series C, $82M, March 2022) are the three with growth-stage disclosed rounds. Merama's $170M April 2025 round is classified as Series Unknown.
How many companies in this dataset have undisclosed round amounts?
Three companies list undisclosed amounts: R3D (Pre-Seed, May 2024), Devolut (Pre-Seed, August 2023), and Creizer (Series Unknown, May 2023). Separately, Guros, alo home, and Come Bien — all raising between December 2020 and June 2021 — have no round type listed alongside their disclosed figures.
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