SoftBank Latin America Fund led a R$310m (~US$58m) Series D in olist, a Brazilian ecommerce platform, with follow-on from Valor Capital, Peninsula, VELT Partners, FJ Labs, and angel investor Kevin Efrusy. SoftBank led a R$190m in 2019, with follow-on from Redpoint eventures. olist also announced the acquisition of Clickspace, a Brazilian SaaS managing ecommerce marketplaces.
(Press Release) – olist, a leading Brazil-based sales platform combining technology and market intelligence to increase merchants’ revenue, today announced that it has secured BRL 310 million in a Series D funding round led by the SoftBank Latin America Fund. This investment adds to the BRL 190 million the Company raised in 2019 and represents the largest single investment in the Company’s history. Investors Valor Capital Group, Península, VELT Partners, FJ Labs and American investor Kevin Efrusy also participated in the round.
Founded in 2015, olist is a one-stop-shop platform offering catalog services, market intelligence and insights, operational control tools and dashboards, end-buyer support services, logistic services, product exposure and sales through several diverse channels. The Company will use the investment to accelerate its rapid expansion through continued investments in its core business, in strategic M&A and in the solutions ecosystem, ultimately to build new products that will generate even more visibility and opportunities for merchants, brands and large retailers.
“We are thrilled to announce our Series D funding round and excited to have the backing of strong investors who believe in our vision,” said Tiago Dalvi, founder and CEO of olist. “In the first half of this year, olist experienced record growth within our core business from an increase in our customer base through the integration of our evolving products into new marketplaces. As we accelerate growth, we aim to offer an increasingly complete ecosystem and deliver the best experience for our client’s as we strive to empower them further”.
Mr. Dalvi continued, “The Brazilian e-commerce market is huge and continues to expand rapidly, having reached record sales of BRL 38.8 billion in the first half of 2020. Despite this, there is still a lot of work to be done for many companies that are not yet prepared to successfully navigate the digital world. We look forward to continuing to empower e-commerce, digitize tens of thousands of businesses and remain the main e-commerce solution for retailers of all sizes and segments.”
“SoftBank’s investment in olist today marks our second investment in the Company, demonstrating our continued belief in its mission to give businesses of all sizes and segments the best chance to adapt to the new reality of omnichannel and e-commerce sales,” said Paulo Passoni, Managing Investment Partner of SoftBank Group International. “We are pleased to support olist’s amazingly talented, data-driven management team as they pursue their mission, and we are excited by the vast opportunities ahead for the Company.”
olist also announced today its acquisition of Clickspace, a startup specializing in marketplace and social commerce solutions. Through this acquisition, olist will continue to expand and develop Clickspace’s offerings, which are highly complementary and synergistic to the Company’s core business. Upon closing, Clickspace’s founder and team of developers will become fully integrated into the olist team.
“We are excited to welcome the talented team at Clickspace,” said Mr. Dalvi. “Clickspace is an outstanding company with services and a mission that are well-aligned with ours, and I am confident that the addition of Clickspace to our core business will further our goals of accelerating growth and enhancing the solutions ecosystem.”
