A Vtex, Brazilian company in the sector of solutions for electronic commerce, announced on Monday, 28, that it raised R $ 1.25 billion in a financing round. With the contribution, the company is valued at US $ 1.7 billion, which makes it the newest brazilian unicorn – category of startups that are valued at least $ 1 billion. It is the second Brazilian unicorn of 2020 – the first was the real estate startup Loft, in January.
According to the company, the financing included the participation of Tiger Global, Lone Pine Capital, Constellation, Endeavor Catalyst and SoftBank. Last year, the Japanese group SoftBank had already led a round of US $ 140 million in the company, with the participation of Constellation and Gávea Investimentos, from the former president of the Central Bank Arminio Fraga – in all, Vtex raised US $ 365 million in the last 10 months.
Mariano Gomide de Faria, co-founder and executive co-president of Vtex: clients in more than 40 countries
“We will use the resources to invest even more in the product, in the consumer experience and in our global expansion, maintaining the high pace of growth and support to our customers, even in the midst of such a challenging year,” said Rafael Forte, president of Vtex Brasil, in note. “It is exciting to see that we are on the right track to increasingly support our customers with their unified commerce challenges.”
The round comes in the middle of a year of high growth for Vtex, due to the changes caused by the pandemic of the new coronavirus. The company expects to close 2020 with a 114% increase in year-over-year growth and a record $ 8 billion in gross merchandise volume (GMV).
Its collaborative trading platform saw a 98% increase in platform adoption during the pandemic. “We are a unified commerce platform for major brands: we take care of both e-commerce transactions, as well as support the management of physical sales and cases where the customer buys online, but withdraws the product in the store,” he explained to Estadão, last year, the startup’s co-founder and executive co-president, Mariano Gomide de Faria.
Contrary to the usual market model, which charges for projects, Vtex keeps a commission on sales made through its platform. “Companies no longer want to spend on developing their own website, so we have a very integrated solution,” said Faria. Today, Vtex supplies more than three thousand online stores for global brands such as AB InBev, Motorola, Stanley Black & Decker, Sony, Walmart, Whirlpool, Coca-Cola and Nestlé, in 48 countries.