So Paulo-based social commerce marketplace Facili has quietly raised more than $366 million in funding over the past year in four separate rounds.
most recently, Facility The $250 million closed on a Series D, led by DX Ventures and Berlin-based Delivery Hero, with Citius as co-anchor investor. That investment values the startup at $850 million.
Glad Brook led the $63 million Series C financing, with participation from Tiger Global Management and Hill House. Luxor Capital led its $41 million Series B round, counting Founders Fund and several other previous investors as backers. Quona Capital and Monashees co-led its $12 million Series A, which included participation from Canary and other partners. True Arrow participated in all rounds.
No funding was announced earlier and all were raised in the last 12 months. The company said its sales volume grew 43 times from January to September. In October alone, Facily delivered over 7 million items.
And now, sources close to the company say Facili is raising even more money that will push its valuation north of $1 billion.
Diego Zodan, Luciano Freitas and Vitor Zaninoto Founded in 2018 with the mission of “Eliminate barriers to traditional e-commerce to provide low-income populations in Brazil and throughout Latin America better access to affordable products”.
Simply put, Facily aims to provide a more inclusive e-commerce experience that pays producers more and “sells cheaper” to those who buy products through its gamified app, which allows consumers to make group purchases. through best prices. It says it is making it easier for the low-income population to shop online by providing pickup points in the cities where it operates and offering a variety of payment options – from bank transfer to cash, with no shipping fees. Of. This model is interesting because, like most of Latin America, Brazilians are largely unbanked or have little banking access. So the ability to shop online without using a credit or debit card opens the door for many people who previously couldn’t shop online and were possibly paying higher costs for the same products personally.
Co-founder and CEO Jodan points out that about 85% of Brazil’s population is considered low-income.
“Consumers in these regions spend an average of 65% of their family income on food and have been practically excluded from traditional e-commerce till now,” he said. “Most of our users easily meet this need when they shop online for the first time.”
As such, the company believes it is at the beginning of its market opportunity.
Facili claims that its app is now among the top three most downloaded apps in Brazil, one of the fastest growing apps in the country (according to App Annie) and by far the most downloaded globally. Fast growing e-commerce food app.
The startup declined to reveal hard revenue figures, saying only that it has experienced “exponential monthly growth” over the past year. It credits its asset-light business model and logistics network as factors behind its success.
It plans to use its new capital on its national expansion, attract new partners to sell on its site, increase technology investment, logistic intelligence and “enhance” its customer experience.
“From early visits with farmers who produce fresh produce for the facility, to recent visits to warehouses, I have been incredibly impressed.Under pressure from the point of view of Brazil’s Facili, where it can be profitable to buy and produce the things your family needs,” Jonathan Whittle, co-founder and managing partner at Kona, co-led Series A, said in a statement. . . “There is incredible potential here and we are delighted to support this extraordinary team.”
Luxor Capital’s John Green agrees, noting that his firm sees a full service in Facili that still has great potential to grow and expand.
“There are a large number of Brazilians who are not involved in e-commerce and who will be able to save by migrating to this new group buying model brought in by Facili,” he said.