Mexico’s DEUNA Raises $30M to Expand eCommerce Services
Commerce operating system DEUNA has raised $30 million in a Series A funding round, the Mexico City-based company announced Friday (July 8).
According to a press release emailed to PYMNTS, the funding — which brings the company’s total financing to $37 million — will help DEUNA consolidate its presence in Mexico, Colombia, Ecuado, and Chile, hire new talent, invest further in its products and expand its user and customer base in the region.
“Founded in late 2020, DEUNA empowers e-commerce merchants to make online sales in LatAm quicker, easier and safer,” the company said in the release.
Its operating system gives local merchants a payments infrastructure that integrates into every major payments provider — companies that include PayPal, Kushki and Mercado Pago — as well as alternative payment methods such as Kueski, Aplazo, Oxxo and Baloto.
In addition, the platform also handles payment orchestration, payment processing, fraud prevention and life cycle management based on actionable user real-time analytics.
“Our product will flip e-commerce in the region,” said Jose Maria Serrano, co-founder of DEUNA. “We designed the first fully functional solution for vendors to truly enable a 1-click checkout experience. This is the front door to commerce 3.0 for our clients. DEUNA solves the conversion, fraud, and acceptance rate challenges with a single integration.”
As PYMNTS has reported, online shopping expanded rapidly in Latin America during the pandemic, with payment preferences varying widely from country to country.
See also: eCommerce in Latin America Showing Hypergrowth eCommerce adoption is increasing as well, with market penetration growing in Brazil, although many Latin Americans still prefer — or, in the case of the unbanked, rely on — cash to make their digital purchases.Furthermore, eCommerce sales have been projected to maintain an annual growth rate of 30% until 2025, making the region’s eCommerce sector a hypergrowth market.
Click here to view original web page at www.pymnts.com
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.