SoftBank Group and Dynamo led a US$190m Series E round in MadeiraMadeira, a Brazilian home goods e-commerce startup, with participation from VELT Partners, Brasil Capital, and Brazilian family office Lakewood Investment Management, and follow-on from monashees and Flybridge Capital. SoftBank led a US$110m Series D in MadeiraMadeira, at a previous valuation of US$500m.
(TechCrunch) – MadeiraMadeira, the Brazilian answer to Wayfair or Ikea, is now worth $1 billion after raising $190 million in late stage financing from investors led by SoftBank’s Latin American investment fund and the Brazilian public and private investment firm, Dynamo.
An online marketplace specializing in home products, MadeiraMadeira offers roughly 300,000 products so customers can build, furnish, renovate and decorate their homes.
Founded in 2009 by Daniel Scandian, Marcelo Scandian and Robson Privado, the company has seen huge tailwinds come from the shift to online shopping in Brazil as a result of the global COVID-19 pandemic.
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