Catcha Investment Corp 2.0, the second blank check company formed by Southeast Asian internet group Catcha Group, has withdrawn its plans for an initial public offering (IPO) in the United States.

Miferia, a Mexico-based business-to-business wholesale marketplace, bagged $7 million in seed funding to continue developing its curated website connecting independent retailers in Mexico with domestic brands in categories like cosmetics, food and beverage and home décor. Over 90% of retail in Mexico,  still takes place in just 2 million physical stores, and less than 1% of B2B transactions have moved online and are largely still dependent on cash transactions, which often requires retailers to pay upfront for merchandise.