PayPal Ventures has led a $14 million Series A funding round for nocnoc, a company that facilitates cross-border e-commerce between global sellers and Latin America.
Mouro Capital, Quona Capital, Caravela Capital, Broadhaven, and Ignia also participated in the funding round. The capital raised will be used to expand nocnoc’s reach into new markets, open additional sales channels, enhance its fulfillment solutions for retailers, and extend its payments support.
Latin America is experiencing rapid growth in e-commerce, with an annual growth rate of 25%. However, nocnoc points out that it is also one of the most challenging regions for entry. The company addresses the cultural, logistical, and financial hurdles faced by merchants, enabling global brands and online retailers to sell their products in previously inaccessible markets.
Retailers can upload their product catalogs to nocnoc’s platform and start selling immediately in the company’s online megastores, which span 15 of the region’s largest marketplaces, including Amazon, Mercado Libre, Americanas, Carrefour, Walmart, Magazine Luiza, and Coppel.
Nocnoc maximizes product exposure by managing listings across multiple marketplaces and creating effective marketing campaigns tailored to current trends. The company also handles all customer communications, last-mile deliveries, cancellations, and returns.
Ilan Bajarlia, CEO of nocnoc, notes, “Marketplaces account for 80% of e-commerce in Latin America, yet they are highly fragmented. Unlike in the US or China, there is no dominant player. Listing, managing, and selling on numerous platforms simultaneously can be difficult and costly. Nocnoc simplifies this fragmentation, allowing international sellers to grow their sales in Latin America while maintaining focus on their core channels.”