Vtex, a supplier of systems for electronic commerce, announced Monday it has concluded a new fundraising round of $225 million and is now valued at $1,7 billion — from $450 million before the operation. The firm joined the growing list of Brazilian unicorns that includes car-hailing company 99, delivery service firms iFood and Loggi, real estate startups Loft and Quinto Andar and fintech NuBank. The round attracted funds and asset managers Tiger Global, Lone Pine Capital, Constellation, Endeavor Catalyst and Softbank. “Vtex will use the proceeds to make acquisitions, hire talent, improve its platform and accelerate growth in the US, Europe and Asia Pacific markets,” the company said in a statement.
Source: Valor International