Aluna Partners underwrites $3.5M Venture Debt facility for a Last-mile Delivery service company
Introduction of Transaction:
Aluna Partners, a global investment banking firm with expertise in underwriting alternative credit, announced the successful underwriting of $3.5 million dollars venture debt facility for a last-mile Delivery service company. This facility supports the company’s capex and opex requirements in its expansion in Mexico and Brazil.
The facility received significant interest by investors consolidating a 4X oversubscription, allowing the company to be selective and achieve efficient cost of funds.
About the company:
The borrower is a technology driven and environment conscious last-mile delivery service for CPG (Consumer Packaged Goods) and D2C (Direct to Consumer).
The borrower’s proprietary geocoding technology and route optimisation algorithms is at the core of it’s offers and represents its main competitive advantage, cutting operational costs for its clients by 35%. Its user-friendly platform covers all the steps of the delivery process: planning, driver management, delivery real-time control, performance reporting and customer service.
The company is already present in Colombia, Mexico and Brazil. These three countries combined represent 65% of total LatAm GDP and hold the biggest share of logistics and distribution costs for the CPG industry in a sales channel where these companies make 70% of their revenue in the region.
The borrower’s CEO commented,
“Aluna Partner’s deep understanding of alternative lending solutions along with its strong work understanding our business and our expansion plan has been relevant for our us to consolidate stronger capital structure and better funding costs. We are pleased to work with a partner that fully understands high growth companies and work tirelessly to support our expansion plans.”
Aluna Partners is an experienced underwriter in the technology sector. The firm has supported over 30 technology scale-ups since 2021.
