Instacart has acquired Colombia-based grocery tech firm Instaleapthe company announced on Tuesday. The financial terms of the deal were not disclosed.
Founded in 2019, Instaleap is a global fulfillment solutions platform that helps retailers streamline and scale their online operations. The company has clients across nearly 30 countries in Latin America, Europe, and the Middle East.
While Instacart is mostly known for grocery delivery, it’s been investing in retail technology and fulfillment services over the past several years. Its commerce platform, Storefront Pro, powers the e-commerce operations of more than 380 grocers, including Aldi, Costco, Publix, and Sprouts. Additionally, its Carrot Ads offering allows more than 310 retailers to build and scale their online and in-store advertising business.
Given that Instacart’s delivery service is only available in North America, the acquisition will allow the company to expand its business into international markets without needing to launch a delivery network in those regions.
Instaleap will initially operate as a wholly-owned subsidiary of Instacart, the company says. Instacart plans to expand more of its own enterprise technology to Instaleap’s partners over time.
“We see a meaningful opportunity to expand internationally through an enterprise-led strategy that empowers retailers across the globe to meet the evolving omnichannel needs of their customers,” said Ryan Hamburger, Chief Commercial Officer at Instacart, in a statement. “With the addition of Instaleap’s technology, international expertise, and deep retail relationships, we can accelerate our international expansion and better serve retailers and consumers around the world.”
“We’ve built our platform with a deep focus on the unique needs of grocery retailers across diverse international markets,” said Instaleap co-founder and CEO Antonio dos Santos Nunes in a press release. “Joining Instacart enables us to scale our impact with the support of a trusted partner that shares our commitment to retailer success.”
