Movile, a São Paulo, Brazil-based mobile commerce platform, raised $55m in funding.
Backers included Innova Capital, which led a $35m Series D round joined by existing investor Naspers, as well as FINEP, Brazil’s Funding Authority for Studies and Projects within the Ministry of Technology, which provided a $20m long-term financing.
The company will use the funds to accelerate investments, acquisitions, partnerships and recruitment of people.
Movile provides smartphone and tablet applications for content and commerce. Its main app PlayKids is a subscription-based mobile and tablet only children’s entertainment platform filled with games, videos, lullabies and eBooks. The company also provides a platform that enables online2offline (O2O) commerce via mobile apps.
Movile has over 400 employees.