Uruguayan Scanntech raises $180M round led by L Catterton

Uruguayan retail technology firm Scanntech has successfully raised $180 million in a financing round led by L Catterton, with support from Partners Group and Bradesco. This transaction involves a mix of fresh capital and secondary share sales, granting the new investors a combined ownership of around 30%. Warburg Pincus, which had previously invested $40 million in 2023, has divested some of its stake but remains a shareholder.

Established in 1992, Scanntech specializes in delivering real-time retail sales data to retailers and consumer goods companies. This technology enables them to monitor prices, sales volumes, market share, and promotional performance. Currently, Scanntech operates in six markets: Uruguay, Argentina, Brazil, Peru, Colombia, and Mexico. However, the company has ambitious plans to expand further, with entry into new markets slated for 2027.

The recently raised capital will be directed towards Scanntech's growth strategy, enabling its expansion into additional markets. The company processes more than $200 billion in annual retail sales and has been experiencing robust growth, expanding at a rate of approximately 30% per year. Brazil stands out as Scanntech's largest market.