Marco Financial raised $82 million in seed funding. Led by Kayyak Ventures, the company has increased its credit line provided by Arcadia Funds to $100 million.

“Small exporters, especially in [Latin America], are burdened with a broken financing system that makes it nearly impossible to compete with larger exporters,” Peter D. Spradling, COO and co-founder of Marco Financial, said. “Banks aren’t built to serve the needs of smaller companies; they often make SMEs wait around 90 days before rejecting over 50% of trade finance applications. We built Marco specifically to support this disadvantaged market. The seed round will help build a more stable and equitable trade ecosystem.”

The new funding will be directed toward product development to support Marco’s strategy to provide trade finance rails for logistics and shipping conglomerates. The new facility will also expand the company’s supply chain finance, asset-based lines of credit, purchase order and inventory financing offerings.

“Driven by its purpose, culture and world-class talent, we believe Marco is ready to revolutionize the massive but outdated trade finance market and help thousands of small [Latin American] exporters grow their businesses. We see immense potential for value creation in a space ready to be disrupted,” Cristóbal Silva, a partner at Kayyak Ventures, said.

Additional investors in Marco’s seed round and expanded credit facility include Village Global, Flexport Ventures, Tresalia Capital, 342 Capital, Struck Capital, Antler, Antler Elevate, Florida Funders and Fox Ventures. Strategic angel investors include Phil Bentley, CEO of Mitie, and Naman Budhdeo, CEO and co-founder of Tripstack and FlightNetwork.