Coco

What Coco does

Coco (operating as Coco Mercado) is a cross-border digital marketplace that enables members of the Venezuelan diaspora to purchase groceries, medicines, and household products from partnered local retailers in Venezuela and have them delivered to family members' homes. Founded in 2018 and headquartered in San Francisco, with a secondary operating entity (Coconet Global, SL) in Barcelona, Spain, the company targets Venezuelans living abroad who want to provide tangible support to relatives remaining in Venezuela — converting remittance intent into delivered goods rather than cash transfers.

The platform operates through three customer-facing surfaces — a web portal at cocomercado.com and native iOS and Android applications — that allow users (Remitentes) to browse partner stores, select products, designate a beneficiary, and pay using PayPal, Zelle, credit/debit cards, or bank transfers. The supply side consists of a network of Venezuelan retail partners including pharmacies (Farmahorro, Farmatención, Farmacia SAAS), supermarkets (Locatel, Garzón, La Diadema), and specialty retailers (INNOVAR for small appliances). Order fulfillment is handled through last-mile delivery partners, with WhatsApp serving as the primary communication channel for customer support and order notifications.

Coco generates revenue through transaction-based fees on orders placed through the platform plus delivery service fees, with no subscription or recurring charges disclosed. The company operates a referral incentive program (CocoCréditos) awarding $10 in credits to both referrer and new user on qualifying purchases to drive community-led acquisition. As of the available data, total disclosed funding across four rounds is approximately $1.3M (most recently in October 2022), with 51-100 employees and no publicly reported revenue or GMV.

Name

Coco

Legal name

COCO MARKET Inc.

Website

https://cocomercado.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Coco Mercado is a cross-border digital marketplace enabling the Venezuelan diaspora to purchase groceries, medicines, and household goods from partnered Venezuelan retailers for home delivery to family members, generating revenue via transaction and delivery fees.

Ownership category

akta.pro rank

Product category

Cross-border E-commerce Marketplace

NAICS

Food and Beverage Retailers (445)

SIC

Retail-Catalog & Mail-Order Houses (5961)

akta.pro primary industry

Cross-border Marketplaces (Multi-seller) (CRAFAJAA)

akta.pro secondary industry

Cross-Border & International Commerce Platforms (BPAMAGAI)

Keywords

• Cross-border remittances
• Diaspora grocery delivery
• International e-commerce marketplace
• Cross-border payments platform
• Grocery delivery Venezuela

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Platform Commission / Service Fee: Coco acts as a technology platform connecting Remitentes (senders) with Aliado comercial (commercial partners/stores). Revenue is generated through service fees on transactions, including delivery charges when below a threshold rate. The platform facilitates the purchase of goods from partnered stores and charges for the intermediation service.
2. Delivery Service Fee: Additional delivery fee charged for home delivery of products, with the total reflecting the service of domicile plus the value of all products in the cart.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Coco operates a digital marketplace (web and mobile) that connects the Venezuelan diaspora living abroad with partner retail stores in Venezuela, enabling them to remotely purchase groceries, medicines, and household products for delivery to family members' homes. The platform integrates local Venezuelan retail partners (pharmacies and supermarkets), international payment processing (PayPal, Zelle, credit/debit cards), and last-mile delivery logistics into a unified cross-border care-giving service.

Product overview

Coco Mercado is a dual-platform (web and mobile) e-commerce marketplace that enables the diaspora community to send groceries and medicines to their family members in Venezuela. The core offering consists of the Coco Mercado Platform (web portal), iOS App, and Android App, which collectively provide access to a network of partner stores including supermarkets (Locatel, Garzón, La Diadema), pharmacies (Farmahorro, Farmacia SAAS, Pharmatención), and specialty retailers. Users (Remitentes) browse products from partner stores, place orders with delivery to beneficiaries in Venezuela, and pay using PayPal, Zelle, or credit/debit cards. The platform also includes a referral program (CocoCréditos) that rewards users for inviting friends.

Differentiator

Problem solved

Functional benefit

Products and services

• Coco Mercado Platform Web-based digital marketplace that allows senders (Remitentes) abroad to browse products from partner Venezuelan stores (supermarkets and pharmacies), place orders, pay via international payment methods, and arrange home delivery to family members (Beneficiarios) in Venezuela. Accessible globally via web portal and mobile applications.
• Coco Mercado iOS App Native iOS mobile application enabling users to browse partner stores, place orders, track deliveries in real time, and manage their Coco Mercado account from iPhone devices.
• Coco Mercado Android App Native Android mobile application enabling users to browse partner stores, place orders, track deliveries in real time, and manage their Coco Mercado account from Android devices.
• CocoCréditos Referral Program Customer referral incentive program that rewards existing users with $10 in CocoCréditos for each friend who registers with their invitation code and completes a qualifying purchase of over $20; the referred friend also receives $10 credit. Designed to drive word-of-mouth acquisition within the Venezuelan diaspora community.

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Seven partnerships are on record, tiered core.

• Locatel VenezuelacoreChannel Partner/ Reseller/ DistributorMajor Venezuelan pharmacy and supermarket chain partner. Locatel Boleita store shown with 1,536 ratings and 4.8 star rating on the platform, offering groceries, personal care products, medicines, and household items.
• FarmahorrocoreChannel Partner/ Reseller/ DistributorVenezuelan pharmacy chain partner offering medications and health-related products through the Coco platform.
• GarzóncoreChannel Partner/ Reseller/ DistributorVenezuelan supermarket partner with 299 ratings and 4.7 star rating. Offers groceries, fresh produce, charcuterie, bakery items, beverages, liquors, and household products.
• La DiademacoreChannel Partner/ Reseller/ DistributorVenezuelan supermarket with 7,011 ratings, offering groceries, fresh produce, proteins, birthday accessories, frozen foods, and household items.
• FarmatencióncoreChannel Partner/ Reseller/ DistributorVenezuelan pharmacy partner with 1,368 ratings offering medications, personal care products, and health-related items.
• PayPalcoreTechnology or IntegrationPayment processing partner enabling users to pay for orders through PayPal accounts on the platform.
• ZellecoreTechnology or IntegrationPayment integration partner allowing users to make payments via Zelle bank transfer for orders on the platform.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Rappi: Latin American super-app offering on-demand delivery, payments, and financial services across multiple countries including Venezuela. Comparable as a regional delivery and commerce platform addressing LatAm consumers with last-mile logistics.
• Nequi: Colombian digital wallet and payments platform expanding into cross-border transfers. Regional peer addressing the Colombian diaspora flow where some Coco users already send care packages, per customer testimonials.

Broad incumbents

• Western Union: Global incumbent in cross-border money transfers with deep corridors into Venezuela and Latin America. Competes with Coco's broader value proposition of moving value to family abroad, though with cash rather than goods.
• WorldRemit: Established digital remittance platform with strong presence in LatAm corridors. Competes with Coco as an alternative way for the diaspora to support family members in Venezuela, though primarily through cash payouts.
• Mercado Libre: Dominant Latin American e-commerce and fintech platform with Mercado Pago payments and Mercado Envíos logistics. A broader incumbent in cross-border LatAm commerce that could expand into diaspora grocery delivery.

Direct peers

• Remitly: Digital remittance platform serving the Latin American diaspora with cash-to-cash transfers. Directly comparable to Coco's mission of reinventing remittances for the Venezuelan diaspora, though Coco differentiates by delivering goods rather than cash.
• Sendwave: Mobile-first remittance app focused on African and Latin American corridors including Venezuela. Direct peer in diaspora-to-family cross-border value transfer, competing for the same senders Coco targets.
• AirRemit (formerly Boss Revolution): Diaspora-focused mobile platform combining international calling, remittances, and mobile top-ups for LatAm communities. Direct peer addressing the same diaspora-driven care-for-family use case that Coco targets.

Emerging players

• Taptap Send: Mobile-first, low-fee remittance platform rapidly expanding across LatAm and other emerging-market corridors. Direct competitor in the same sender demographic, with comparable mobile-first, low-cost positioning.
• Bitso: Latin America's leading crypto-enabled cross-border payments and remittance platform. Comparable to Coco as a cross-border value transfer solution for the LatAm diaspora, though using digital pesos rather than goods.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/coconecta_ve

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coco