PayPal Ventures Invests In Latin American Nocnoc e-Commerce

PayPal Ventures led a $14 million Series A funding round for nocnoc, a company that helps global sellers do business with Latin American customers online.

Mouro Capital, Quona Capital, Caravela Capital, Broadhaven, and Ignia all joined the round. The money raised will be used to expand nocnoc’s reach into new markets and open more sales channels. It will also be used to improve its fulfilment solution for stores and add more payment options.

Latin America is one of the fastest-growing e-commerce areas in the world, growing at a rate of 25% per year. However, nocnoc says that it is also one of the hardest places to get into.

The company says that it helps merchants overcome cultural, logistical, and financial barriers. This makes it easy for global brands and online retailers to sell their goods in markets that were hard to reach before.

Retailers upload their product catalogues to nocnoc’s platform and can immediately start selling in nocnoc’s online megastores on 15 of the biggest marketplaces in the region, such as Amazon, Mercado Libre, Americanas, Carrefour, Walmart, Magazine Luiza, and Coppel.

The company tries to get the most publicity for its products by managing their listings on multiple marketplaces and creating effective marketing campaigns based on what’s popular at the time. nocnoc also takes care of all customer interactions, last-mile deliveries, cancellations, and returns.

Ilan Bajarlia, CEO, nocnoc, says:

“Marketplaces make up 80% of eCommerce in Latin America, but are highly fragmented. There is no ‘winner takes all’ player, like Amazon or Walmart in the US, or Taobao or JD in China.

In this sense, listing, managing and selling on all these platforms at the same time is hard and costly. nocnoc obscures this fragmentation by allowing international sellers to quickly and easily grow their sales in Latin America while preserving their ability to focus on their core sales channels.”