E-commerce platform Nuvemshop raises R$500 million from investors

Open e-commerce platform Nuvemshop announced Monday it has received a US$500 million investment to fund its expansion project across Latin America and strengthen its tenant base.

RIO DE JANEIRO, BRAZIL - The investment round, led by funds Accel Partners, ThornTree Capital Kaszek, Qualcomm Ventures, and investor Kevin Efrusy, comes just five months after a previous funding of US$30 million.

The company did not disclose how much it valued with the new funding, but says the deal makes it one of the country's next unicorns, market jargon used for startups with a market value of US$1 billion.

Created in 2010, Nuvemshop today has a network of about 75,000 tenants spread across Brazil, Argentina and Mexico. With the new contribution, it plans to expand this . . .

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