LatAm List – Softbank continues to deploy its Innovation Fund in Latin America’s largest country, this time leading a $110M round into Brazil’s leading home goods platform, MadeiraMadeira. This Series D round more than triples all of the retailer’s previous funding of $38.8M across three rounds.
US investors Light Street Capital and Flybridge Capital also participated in the round, demonstrating the US’ increasing interest in Latin American investments.
MadeiraMadeira uses a dropshipping model that allows them to offer thousands of products while saving on overhead. They will use this investment to improve customer service, logistics, and their technology.
Meanwhile, MadeiraMadeira is looking outward toward the rest of Latin America. According to Crunchbase News, expansion is one of the options on the table for this company now that it has reached break-even.
Brazil has long been the largest recipient of international venture capital funding in Latin America, and Softbank’s massive investments are only pushing that ratio higher.
Read more in Crunchbase News.
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