Business

Brazilian social commerce app Facily taps $250 million and gets close to unicorn valuation

The most recent round received by Facily was led by DX Ventures and Delivery Hero; the company is dealing with thousands of complaints from its users

Facily app unicorn valuation
The CEO of Facily, Diego Dzodan (left) and the president of Procon-SP, Fernando Capez, signed a term of commitment to resolve complaints from users of the social commerce app. Photo: Facilly/Courtesy
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Brazilian social commerce app Facily announced on Tuesday (16) that it closed its fourth funding round, raising $250 million, what places the company close to unicorn status, a start-up companies valued at $1 billion.

The announcement came just days after the company closed an agreement with Procon-SP to resolve complaints from consumers harmed by problems that include delays in product delivery and lack of refunds.

READ ALSO: SoftBank-backed Frete.com joins unicorn club with $ 200 million funding

Consumers complain about delays and lack of reimbursement

According to Procon-SP, a consumer protection agency, from the beginning of the year until October, the company registered more than 150,000 complaints. At this meeting, Facily pledged to refund all complaints made to the entity until November and also to create a fund of BRL 250 million to improve its app customer experience and logistics.

“With the new investments received, the company will focus on logistical efficiency to accelerate the delivery of orders placed on the platform, in addition to working on the company’s national expansion,” stated Facily in a press release.

READ ALSO: Ebit|Nielsen: cross border already represents 21% of e-commerce in Brazil

The most recent round received by Facily was led by DX Ventures and Delivery Hero, with Citius also participating in the round. Before that, the company raised $116 million in three other rounds in the past 12 months.

The company did not say what the valuation after the new funding, but the American website TechCrunch points to a valuation of $850 million.

Facily was founded by Diego Dzodan, former vice president of Facebook for Latin America, and by executives Luciano Freitas and Vitor Zaninotto in 2018.

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