Olist, a Brazilian e-commerce marketplace, raised a $186M Series E funding round led by Wellington Management. The new round values the startup at $1.5B.
Olist connects small businesses to larger e-commerce marketplaces to give retailers a larger platform and broader customer base.
Since its start in 2021, Olist has tripled its size. The platform raised a $23M Series D extension in April and also closed four acquisitions over the year.
“With more than 45,000 shopkeepers and retailers as clients, Olist has always been at the forefront of digital retail,” said Tiago Dalvi, founder and CEO. “With this new round, we want to go beyond what we do today and deliver more and more value to our customers.”
Olist is now looking beyond marketplaces and plans to expand its credit line services to include risk management and internal credit models for merchants.
The company also recently launched its product inMexico and will continue its regional growth in the coming year.
Read more on TechCrunch.
