Cumin Group LLC, a Georgia-based technology and investment firm, announced today the successful acquisition of Carib Mall, a pioneering e-commerce platform serving the Caribbean and Latin American markets.
This strategic move marks Cumin Group’s entry into the growing e-commerce landscape of the region.
Carib Mall, founded in Antigua & Barbuda in 2021, established itself as the premiere online shopping experience in the Caribbean and Latin America that does direct shipping to Latin America & the Eastern Caribbean islands.
With a pre-revenue valuation of approximately $2.5 million USD in 2022, Carib Mall has revolutionized the e-commerce sector by introducing the logistics built-in to fulfill 2-day delivery directly to any country in the Caribbean and Latin America.
The acquisition of Carib Mall by Cumin Group is poised to bring significant enhancements to the e-commerce ecosystem of the Caribbean and Latin America.
As part of the acquisition, Cumin Group will leverage its expertise and resources to augment Carib Mall’s offerings with modern Point-of-Sale (POS) solutions, logistics infrastructure including fulfillment centers in the Eastern Caribbean, software, and payment gateway technology.
“We are thrilled to announce the acquisition of Carib Mall by the Cumin Group,” said Trevaun Solomon, Chief Information Officer at Carib Mall.
“This transaction represents a significant milestone in our mission to introduce an online shopping platform that includes shipping to keep up with the upcoming demand from the Caribbean and Latin America market. Cumin Group’s international reach can unlock more rewards, opportunities, for our market to get what they want, and become more involved, educated, and well-equipped consumers.”
Carib Mall’s innovative platform is the first of its kind in the Caribbean and Latin America, offering a unique blend of features inspired by Alibaba’s manufacturing hub services and co-listing services to offer the same products found on Amazon, Sam’s Club, and with the integrated shipping not provided to the region by the retail giants.
While the exact details of the acquisition cost remain undisclosed, the strategic alignment between Cumin Group and Carib Mall underscores a shared commitment to driving innovation, fostering economic growth, and empowering businesses in the Caribbean and Latin American markets.
For more information about Carib Mall and Cumin Group, please visit https://caribmall.com or https://bankcumin.com respectively.