Nuvemshop, a Sao Paulo, Brazil-based e-commerce platform, raised $500 million in Series E funding, valued at more than $3 Billion.
The round, which brought total funding raised in the last ten months to more than $620m, was co-led by Insight Partners and Tiger Global Management, with participation from Alkeon, Owl Rock, Sunley House Capital and VMG Partners, as well as existing investors Accel, Kaszek, Kevin Efrusy, Qualcomm Ventures LLC, and ThornTree Capital.
The company intends to use the funds to accelerate growth in current markets and support geographic expansion into new countries, including Colombia, Chile and Perú, to accelerate its payment and logistics capabilities.
Round: Series E
Funding Month: August 2021
Lead Investors: Insight Partners and Tiger Global Management
Additional Investors: Alkeon, Owl Rock, Sunley House Capital and VMG Partners, Accel, Kaszek, Kevin Efrusy, Qualcomm Ventures LLC, and ThornTree Capital
Company Website: https://www.nuvemshop.com.br/
Software Category: Ecommerce
About the Company: Led by Santiago Sosa, CEO and co-founder, Nuvemshop (also known as Tiendanube in Spanish speaking countries) empowers entrepreneurs to build and grow online businesses. The platform serves more than 90,000 merchants across Brazil, Mexico, and Argentina, ranging from direct-to-consumer (DTC) upstarts to an expanding roster of established brands such as PlayMobil and Billabong Colombraro, Zaira Beauty, Osram, Lolja, Vitabe and StrappyCo. It integrates products, payments, shipping and provides an ecosystem with more than 1.000 partners, such as Facebook, Instagram, marketplaces, and brick and mortar stores. The company currently has more than 600 employees and offices in Brazil, Mexico and Argentina.