Nuvemshop, a Sao Paulo, Brazil-based e-commerce platform, raised $90M in Series D funding.
The round was led by Accel with participation from ThornTree Capital and existing investors Kaszek, Qualcomm Ventures LLC, as well as e-commerce leaders including Mike Micucci (former CEO of Salesforce CommerceCloud), Mark Lavelle and Mark Lenhard (former CEO and SVP of Strategy at Magento, respectively), Jamie Sutton (former Head of Tech Partnerships at Shopify), Kevin McKeand (former Head of Strategic Partnerships at BigCommerce), and Minesh Shah (COO of Stitchfix). In conjunction with the investment, Accel Partner, Andrew Braccia, joined Nuvemshop’s board.
The company intends to use the funds to continue improving its platform for merchants, including new solutions for payments and logistics management, and develop grow its ecosystem, extending support to merchants of all sizes, while boosting their presence in Brazil, Argentina and Mexico, and expand into new markets including Colombia, Chile and Peru.
Led by Santiago Sosa, CEO and co-founder, Nuvemshop is an e-commerce platform powering nearly 80,000 merchants seeking to launch, develop and promote their own online businesses via a comprehensive partner ecosystem of solutions and services around payments, shipping, inventory management, marketing and more.
The platform serves nearly 80,000 merchants across Brazil, Argentina, and Mexico, ranging from direct-to-consumer (DTC) upstarts to dominant brands such as Play Mobil, Osram, Billabong, Coppel, Luigi Bosca, Zaira Beauty, and Lolja.