Brazilian Olist pulls out of the game with another $ 186 million funding round
Olist, a Brazilian e-commerce market integrator, has confirmed that it is now valued at $ 1.5 billion after securing $ 186 million in Series E funding, led by Wellington Management.
The new round quickly follows a $ 23 million Series D expansion announced by the company in April, led by new investor Goldman Sachs Asset Management to bring its total Series D funding to $ 80 million.
That’s when we profiled Olist, which connects small businesses to larger product markets to help entrepreneurs sell their products to a wider customer base. Its technology enables small merchants to gain market share nationwide through a SaaS licensing model for small physical businesses.
This Wellington investment is the company’s first contribution to a private company in Latin America, according to Olist. Funds managed by SoftBank, Corton Capital, Valor Capital Group, Goldman Sachs, Globo Ventures and Kevin Efrusy joined Wellington in the round.
Olist said they tripled their size in 2021 and made four acquisitions in the past year, including social commerce startup Clickspace, logistics company PAX and VNDA, and Tiny ERP, both of which offer commerce tools for small businesses. .
âWith over 45,000 merchants and retailers as customers, Olist has always been at the forefront of digital retail, long before the hype of e-commerce that drove the search for our solutions,â said Tiago Dalvi, founder and CEO of Olist, in a written statement. “With this new cycle, we want to go beyond what we do today and deliver more and more value to our customers.”
Indeed, the company wants to go beyond market places, and the new capital will allow it to offer an order processing operation, which is scheduled to open early next year, and financial services. Retailers on Olist already have access to lines of credit for working capital, but the company plans to expand this technology to include risk management, accelerated sales, and internal credit models for merchants.
Meanwhile, the company recently started operations in Mexico and intends to expand its presence in Latin America next year.