Categories: Business

Latin American unicorn Nuvemshop acquires Brazilian edtech focused on e-commerce

  • In the last ten months, Nuvemshop (or Tiendanube, as it is known in other Latin American countries) received more than $500 million in investments;
  • In August, the company gained unicorn status after being valued at $3.1 billion after the Series E round co-led by Insight Partners and Tiger Global.

The e-commerce platform Nuvemshop (or Tiendanube, as it is known in Spanish-speaking Latin American countries) announced the acquisition of the Brazilian education platform Ecommerce na Pratica. Founded in 2016, the edtech firm has more than 40,000 students and produces content that reaches over 3 million people every week. The operation, whose value was not revealed, is part of Nuvemshop’s strategy to become a true ecosystem of e-commerce solutions.

In October, Nuvemshop debuted in the payments market with Nuvem Pago, a proprietary payment solution developed with an investment of BRL 150 million which will be offered to all small and medium-sized companies served by the platform in Brazil – the country concentrates most of the 90,000 merchants of Nuvemshop in Latin America. Also in October, Nuvemshop announced the acquisition of the logistics startup Mandaê.

READ ALSO: Latin American e-commerce to skyrocket 37% in 2021, shows EBANX’s Beyond Borders 2021/2022 study

These steps were possible thanks to more than BRL 3.2 billion in investments received by Nuvemshop in the last ten months. In August, the company gained unicorn status after being valued at $3.1 billion in a $500 million Series E round co-led by Insight Partners and Tiger Global.

“With this acquisition, we will deliver a complete solution to our merchants, bringing together technology and education with exclusive content, as well as a broad ecosystem, in one place,” said Luiz Piovesana, CMO at Nuvemshop, in a press release. “We understand that sharing knowledge goes far beyond a content marketing strategy.”

READ ALSO: Nuvemshop: SMBs boost e-commerce revenues by 30% on Brazil’s Black Friday

“I have always believed that the future of e-commerce would be the union between education and technology because we know how challenging it is to achieve results if people are not aware of how to achieve them. And it is exactly this expertise that they need and expect from us. (…) Today, we are preparing ourselves not only for the present but for the future of our market”, stated the CEO and founder of Ecommerce na Pratica, Bruno de Oliveira.

Nuvemshop currently operates in Brazil, Mexico, and Argentina, but it is already reaching more Latin American countries. Colombia, Chile, and Peru are in Nuvemshop’s roadmap for the next two years. The platform wants to create a 100% local operation in each country, also hiring local talents – in 2021 alone, there should be more than 300 new hires.

This post was last modified on December 4, 2021 11:03 am

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