Cayena raises a $55M Series B round led by Bicycle Capital

Brazilian marketplace for wholesale food supplies Cayena raised a $55M Series B round led by Bicycle Capital. Picus Capital, FEMSA Ventures, Astella, Globo Ventures, Endeavor Catalyst, Canary, FJ Labs, Clocktower, and Norte Ventures also participated in the round.

Cayena will use the funds to expand its solution and grow its customer base across Brazil.

“Cayena’s true expansion phase begins now. (…) Over the next two years, we will expand our geographic reach to an additional 500 cities and position ourselves as the main player between consumer packaged goods, distributors, and hundreds of thousands of food retailers across the region,” said Pedro Carvalho, Cayena’s Co-Founder.

Cayena is a B2B marketplace that enables food businesses in Latin America to source inventory from multiple suppliers with next-day delivery, real-time pricing, and integrated payment solutions that improve working capital management.

Founded in 2020, Cayena sells $200M a year through its platform and has shown a 5x year over year growth since 2021.