Brazil’s Movile Raises $55 Million To Bring Universal Delivery Services To Latin America


The experiment with e-commerce and delivery services that’s taking hold in the U.S. actually may see more traction in emerging markets, where big retailers had struggled because of infrastructure and logistics issues. Latin American and Asian e-commerce players are angling to become the dominant players in retail with same-day delivery for goods and services that were traditionally sold in stores.

In Brazil, no company is doing more than the mobile software and services developer Movile, which raised $55 million to finance its grand plan to join e-commerce with delivery services to make the shopping experience better and easier for everyone.

Already backed by the South African media and investment giant Naspers (which is also an investor in Tencent), Movile added a new backer in Innova Capital with its $35 million Series D round of funding. The Sao Paulo-based company also picked up a $20 million commitment from FINEP…

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