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By Agroempresario.com
In a move set to strengthen the agri-food supply chain between Latin America and North America, U.S.-based fintech startup Blooms has raised a $2.6 million seed round led by SP Ventures. The company offers digital finance, payment, and foreign exchange (FX) solutions tailored to Latin American exporters of fresh produce supplying the U.S. and Canada.
At the heart of the company is founder Francisco Meré, a Mexican entrepreneur who told AgFunderNews that Blooms was launched to address two simultaneous challenges: the growing demand for fruits and vegetables in the United States, and the limited access to modern financial tools among Latin American producers.
“Globally, fresh produce consumption has risen,” said Meré. “The U.S. is the largest produce market in the world, with households spending around $100 billion annually.” Roughly one-third of that produce is imported, primarily from Mexico, Guatemala, and Costa Rica, highlighting the need for “a very stable, secure, and sustainable food supply chain that comes from Latin America,” he emphasized.
Blooms provides a suite of digital tools designed specifically for exporters. On the financial side, it offers “cross-border non-rigorous factoring,” allowing Blooms to purchase receivables and assume the U.S.-side credit risk. The company also buys future receivables to deliver working capital and pre-export financing, supporting the production phase of the export process.
To further streamline operations, Blooms developed a payments and FX platform in partnership with U.S. financial institution Monex. This enables exporters to receive funds directly through the local banking system of the importing country, significantly reducing payment times.
Another key innovation under development is Blooms’ data tool, which will digitize and enrich the flow of information throughout the cross-border chain. “It’s designed to help exporters better understand their cash flow patterns and forecast accordingly,” Meré explained.
Blooms is also PACA-certified, complying with the Perishable Agricultural Commodities Act — a U.S. law ensuring fair trade practices in the produce industry.
The $2.6 million seed round was led by SP Ventures, with participation from Angel Ventures, The Yield Lab Latam, Eqwow Ventures, Glocal Managers, and Mercy Corps Ventures. According to Francisco Jardim, general partner at SP Ventures, the opportunity was clear: “Mexico is already a top-three exporter in multiple categories, yet the financial infrastructure around this trade remains outdated and inefficient. Blooms is stepping in to fix that with AI-driven, climate-resilient trade finance solutions.”
Meré highlighted that this vote of confidence from investors came despite current trade tensions and tariff uncertainty. “We’re proud to have secured investor support during such volatile times—not just economically, but also in terms of global trade dynamics,” he noted.
While some Latin American countries like Mexico benefit from the USMCA agreement, which eliminates tariffs on most goods exchanged between the United States, Mexico, and Canada, others such as Colombia and Peru still face tariffs of up to 10%. In these cases, Meré says exporters, importers, and retailers are increasingly engaging in cooperative dialogues to manage the impact.
As Blooms looks ahead, the startup is focused on scaling its financial infrastructure, improving transparency across the export process, and supporting a new generation of digitally savvy producers ready to modernize the region’s agricultural trade.
