SoftBank invests in Brazil’s Olist

LatAm List – Japanese tech giant SoftBank is leading a $46.65M (R$190M) round for Brazilian marketplace integrator Olist. The deal is part of SoftBank’s $5B Latin American fund launched in March. Redpoint eventures and Valor Capital also participated in this round.

Olist connects merchants and their products to main marketplaces. Tiago Dalvi, Olist CEO and founder, explained that the company plans to use the funding to expand the number of sellers it serves to from 7K to 100K in two years.

Olist “offers a lot of room to grow, as few small retailers are in marketplaces yet,” said Paulo Passoni, SoftBank managing investment partner.

Dalvi said Olist may add financial products to its platform in the future and is seeking partnerships with other companies in SoftBank’s portfolio, such as Colombian delivery app Rappi and Brazilian logistics company Loggi.

Read more on Reuters.

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