nocnoc raises $14M to tap into LatAm's growing cross-border e-commerce market

The cross-border e-commerce market in Latin America experienced significant growth of 44% in 2022 and is currently valued at $382 billion. It is projected to continue growing at an annual rate of 25% until 2025, according to Americas Market Intelligence.

To capitalize on this lucrative opportunity, nocnoc a tech company that facilitates cross-border e-commerce in LatAm has raised $14 million in the Series A funding round, led by PayPal Ventures and supported by other investors including Mouro Capital, Quona Capital.

nocnoc enables businesses to tap into the vast consumer base of Latin America through its platform, which connects Latin American merchants with global sellers. With access to 16 marketplaces and a potential reach of nearly 500 million consumers, nocnoc offers an invaluable solution for businesses looking to expand their cross-border sales in the region.

Launched in 2018, nocnoc has already achieved significant success, claiming to be the largest cross-border store in Latin America. It has introduced over 180,000 exclusive products from more than 1,200 international sellers to the region. Also, the company's gross merchandise volume has tripled over the past year, driven by its expansion into new marketplaces and countries such as Mexico, Colombia, and Chile. Currently, the company is headquartered in Uruguay with offices in Brazil, Mexico, Argentina, Colombia, China and Spain.

With the backing of this funding round, nocnoc is well-positioned to capitalize on the immense growth potential of Latin America's cross-border e-commerce market and solidify its position as a leading player in the region. The company also plans to enhance its infrastructure, introduce new features, and support its customers' growth. This includes establishing additional fulfilment centers and launching an "Advanced Payments" product.