Business

LatAm-based Nuvemshop invests BRL 55 million to expand in Mexico and debut in Colombia

The investment is part of the company's international expansion strategy after receiving a BRL 500 million round; the goal is to launch local operations according to the needs of each country

Luiz Piovesana, CMO at Nuvemshop. Photo: Courtesy
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Nuvemshop, an open e-commerce platform, announced that it will invest BRL 55 million to expand its operations in Mexico and debut in Colombia in 2021. The investment is part of the company’s international expansion strategy after receiving a BRL 500 million Series D round in March and forecasts Chile and Peru next year.

The expansion plan includes the launch of the platform, the opening of new offices and the development of a 100% local operation, with native professionals from all areas. The company’s goal is to know the entrepreneurs’ profiles and identify the demands of each country to adapt the Nuvemshop portfolio according to each location, adding value to the solutions offered for e-commerce and expanding its ecosystem.

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“We will deliver a solution developed for each country, with costs in local currency. Shopkeepers will be able to benefit from having their own online business: direct connection with the consumer and lower operating cost compared to marketplaces,” says Luiz Piovesana, CMO at Nuvemshop.

The expansion across Latin America will be carried out in phases, starting with Mexico, where Nuvemshop already has 20 local professionals and intends to double the operation by the end of the year.

Colombia, on the other hand, is seen by the company as a strong economy with characteristics similar to Argentina, a country in which Nuvemshop already operates, with regard to the e-commerce potential and the profile of its tenants.

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“In markets where e-commerce is still developing, our role is to ensure that entrepreneurs have access to cutting-edge technology and reduced costs that, until then, were only available to big retailers,” said Piovesana.

Nuvemshop‘s platform currently has more than 85,000 active stores in Latin America, integrating products, payments and shipments with different sales channels, such as Facebook, Instagram, marketplaces and physical stores.

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