Tiger Global and Insight Partners led a USD500m round for Tiendanube/Nuvemshop, an Argentine ecommerce platform with operations in Brazil and Mexico, with participation from Sunley House Capital, VMG Partners, Alekon and Owl Rock, and follow-on from KASZEK, Qualcomm Ventures, Accel, ThornTree Capital and angel Kevin Efrusy (Accel), at a reported USD3.1b valuation. Tiendanube raised USD90m in a round led by Accel in March, USD30m in 2020 and USD7m in 2017. IGNIA Partners, NXTP and Elevar Equity are among the earlier investors.
(TechCrunch) – 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.
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