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LAVCA | The Association for Private Capital Investment in Latin America

A non-profit member organization

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Deal Case Highlight Valor Capital Group | Dolado

26 September 2022

Member Investor: Valor Capital Group
Company: Dolado
Industry-Sector: E-commerce Solutions

READ the latest deal case featuring Valor Capital Group‘s investment in e-commerce solutions provider Dolado

OPPORTUNITY

Valor Capital first met Guilherme Freire in 2012, when he founded, scaled and successfully exited direct-to-consumer eyewear company LIVO. Noticing Guilherme’s track record and entrepreneurial spirit, Valor Capital kept in touch and followed his journey through his other entrepreneurial endeavors, including co-founding ride-sharing company Grow Mobility (formerly Ride).


At the onset of the pandemic, many small retailers were falling behind while much of the country rapidly shifted to digital platforms. Small businesses account for 54% of formal jobs created in Brazil, but they remain one of the most vulnerable segments of the retail chain, as they are subject to limited upstream product availability and scarce working capital, and often lack economies of scale. While other solutions existed that assisted businesses with digitalization efforts during the pandemic, most of these were focused on medium and large enterprises. Small retailers – especially those in underserved regions outside of metropolitan areas – were largely overlooked, while taking the brunt of the economic slowdown from COVID-19.

EXECUTION

In October 2020, Valor Capital led a USD2.2m seed round for Dolado, with participation from Global Founders Capital, Provence Capital, Norte Capital, as well as executives from iFood, Stone, Olist, Viva Real and PayPal. The company was founded during lockdowns, so its initial focus was to help merchants from tier-2 cities and favelas in São Paulo to set up online stores, which allowed them to keep serving their clients and produce minimum cash flows to cover basic expenses. During its first six months of operations, Dolado served SMEs from 128 cities in Brazil, delivering over 138,000 leads for its affiliated retailers. Merchants listed over 68,000 products on Dolado, reaching over 420,000 online visits despite a practically null marketing expenditure.

ESG IN FOCUS

Dolado has structured a product offering focused on positively impacting and empowering entrepreneurs from underserved regions and vulnerable backgrounds. While such a strategy has mainly focused on technological solutions to increase efficiency and revenues of merchants, Dolado also empowers individuals through its employment practices. The company is currently one of the main supporters of Instituto Responsa, a Brazilian initiative focused on non-discrimination of people impacted by the justice system. Approximately 15% of Dolado’s operational workforce was previously incarcerated. Beyond employment, Dolado also seeks to provide its employees with professional development opportunities through partnerships with technical training institutions such as the {Parças} Developers School… download the full case study to read more

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Deal Case Highlight Valor Capital Group | Dolado was last modified: October 4th, 2022 by awilli47
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The 2023 LAVCA Startup Founders Survey is made possible thanks to the support of LAVCA’s Tech Growth Membership, a group of leading tech companies and investors advancing the tech ecosystem in Latin America including AWS, Mercado Libre, Microsoft, Qualcomm Ventures, SVB, Riverwood Capital, Google and Movile.

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