August 19

Brazil’s Nuvemshop Raises $500 Million at a $3.1 Billion Valuation Months After Last Raise

By Mary Ann Azevedo

Just five months after raising $90 million, Brazil’s Nuvemshop announced today it has raised $500 million in a round co-led by Insight Partners and Tiger Global Management.

The financing values Nuvemshop — which some say is Latin America’s answer to Shopify — at $3.1 billion, and brings the São Paulo-based startup’s total funding in the last 10 months to more than $620 million.

Sunley House Capital, VMG Partners, Alkeon and Owl Rock as well as existing backers Accel, Kaszek, Kevin Efrusy, Qualcomm Ventures LLC and ThornTree Capital also participated in the latest round.

Photo Courtesy of Artistic Operations.


Source: TechCrunch (link opens in a new window)

e-commerce, startups