Facily, a social commerce marketplace, has raised over $366M in funding across four rounds in under a year. Facily is now valued at $850M.
From a $12M Series A to the platform’s most recent $250M Series D, Facily has attracted investors such as Monashees, Tiger Global Management, and Delivery Hero, to name just a few.
The platform is on a mission to “eliminate the barriers of traditional e-commerce to provide low-income populations in Brazil and Latin America access to affordable products”, said the founders.
The platform connects consumers to the best prices on the market and facilitates online shopping for lower-income populations by providing local pick-up points and a range of payment options. These methods open the door to the millions of underbanked in Brazil and Latin America.
Between January and September, Facily increased its sales volumes 43 times over. It is now one of the fastest-growing apps in Brazil and the fastest-growing e-commerce food app globally.
The new funding will allow further technical developments on the platform and help improve customer experience. There are rumours the platform is raising even more funds that will push it over the $1B mark.
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