Business

Brazil's Petlove raises BRL 750 million from Riverwood Capital

Petlove plans to expand its fast delivery services and technology as pet market reaches new highs

Petlove round
Petlove raises BRL 750 million from Riverwood Capital. Photo: Petlove/Courtesy
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  • Brazil’s pet industry had a 13.5% increase in 2020, a BRL 40 billion market;
  • Round led by Riverwood Capital had participation from Tarpon, SoftBank, L Catterton, Porto Seguro, and Monashee.

Pet-focused e-commerce promises to heat up in Brazil as Petlove raised BRL 750 million, in round led by Riverwood Capital. The biggest capital injection by the company was announced this Monday (30) and also had the participation from Tarpon, SoftBank, L Catterton, Porto Seguro, and Monashee.

The company plans to expand its logistical solutions, make faster deliveries, and promote its subscription model. Currently. Petlove offers 4-hours deliveries in a few Brazilian cities such as Sao Paulo and Belo Horizonte.

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“We see this movement as another step in our path to democratize and simplify pet care, offering the best experience and empowering veterinarians and entrepreneurs in the segment”, explains the CEO of Petlove&Co, Talita Lacerda. The company is a merger of Petlove, DogHero, Vetus, VetSmart, and Porto.Pet.

Pet ecosystem: battle of giants

Petlove’s round comes as the dispute for the Brazilian pet industry intensifies. The company hopes to stand out by investing in technology.

A projection by the Instituto Pet Brasil, based on market data up to the Q3 of 2020, reveals that the country had a 13.5% increase in pet industry revenues compared to 2019, a market of R$ 40 billion. Petlove hopes to differentiate itself from competitors with the help of technology.

READ ALSO: Design-driven e-commerce, Brazil’s Zee.Dog wants to expand globally and go far beyond the pet market

“The growth of the pet market in Brazil, combined with the continued adoption of e-commerce, is driving the need for a technology platform and ecosystem where customers can quickly and easily purchase supplies and book services online,” adds Joaquim Lima, Partner at Riverwood Capital.

Recently, Petz retail chain acquired the e-commerce pet brand Zee.Dog, in addition to the content-based Cansei de ser Gato. On the other hand, pet retailer chain Cobasi bets on an M&A strategy and plans to go public.

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