Here are the highlights on Brazil’s tech and business scene in August:
Petlove&Co, a São Paulo-based digital platform for products and services for the pet market, raised about US$150 million (R$750 million) in a funding round led by Riverwood Capital. Tarpon, SoftBank, L Catterton, Porto Seguro and Monashees also participated in the round. The company has declined to reveal at what valuation this round was raised.
Cora, a Brazilian digital lender to small-and-medium-sized businesses, raised US$116 million in a Series B round led by Greenoaks Capital. The round also included Tiger Global and Tencent.
Brazilian proptech QuintoAndar raised US$120 million, which is an additional value to the US$300 million Series E, announced 3 months ago. New investors Greenoaks Capital and China’s Tencent co-led the round, which included participation of some existing backers as well. São Paulo-based QuintoAndar is now valued at US$5.1 billion.
Kovi, a rental car startup for on-demand drivers, raised US$104 million in a Series B round of funding co-led by Valor Capital Group and Prosus Ventures. Quona, Broadhaven Ventures, GFC, Monashees, UVC Investimentos, PIPO, Norte, Maya Capital and Globo Ventures also participated in the financing, in addition to Tinder co-founder Justin Mateen and PayPal co-founder Peter Thiel through his family office.
E-commerce platform Nuvemshop is the new LatAm unicorn. With a network of 90,000+ retailers, CEO Santiago Sosa told LABS that e-commerce penetration in Brazil “will grow to 50-60% in the next decade” making it more relevant than traditional retail. The company latest US$500 million Series E round was co-led by Insight Partners and Tiger Global Management.
F360⁰ raised R$ 50 million in a round led by the Brazilian venture capital fund HiPartners, focused on retailtechs, and by the manager, also Brazilian, HIX Capital.
InstaCarro, a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. J Ventures, FJ Labs and Rise Capital joined the investment, among others.
Unico, a Brazilian startup that develops digital identity protection solutions, raised a RS$ 625 million funding round led by General Atlantic and SoftBank. Micky Malta, partner at Ribbit Capital, and Big Bets also participating in the round. With the investment, Unico becomes the newest Brazilian unicorn, with a market value exceeding US$ 1 billion.
Omie, a management platform (ERP) focused on medium-sized companies, received an investment round of R$ 580 million led by SoftBank. The round was followed by funds Riverwood and Dynamo, Velt, Bogari Capital, Hix Capital and Brasil Capital. Omie is close to becoming a unicorn, according his president and founder.
Movile received an R$ 1 billion (US$194.2 million) investment from Prosus, a spin-off of South African e-commerce group Naspers. The new investment will fund expansion in Movile’s current companies such as iFood, fintechs MovilePay and Zoop and Mensajeros Urbanos.