Movile, Latin America’s mobile commerce platform, on Tuesday announced it has raised R606 milillion ($40 million) in Series F funding from Naspers through its Naspers Ventures division to invest in ticketing industry. By Staff Writer
Naspers, a strategic partner and majority shareholder of Movile since 2008, led the round with participation from Innova Capital, an investment fund focused on high growth companies with expertise in technology.
The new funds will be used to accelerate the continued growth of its suite of apps and services in Latin America and beyond, as well as enter the ticketing industry through a $4 million investment in Sympla, a Brazilian online ticketing and event management company.
The addition of Sympla to Movile’s investments marks the continuation of its growth across a broad spectrum of mobile commerce markets.
Cofounded by David Tomasella, Marcelo Cartacho and Rodrigo Cartacho, Sympla is a full-service platform that offers ticket sales, finance, social media and audience analytics tools. Since 2012, it has sold more than four million tickets to over 50,000 events held in about 2,000 Brazilian cities.
The funding follows on the heels of other notable milestones for the company. iFood, Movile’s food ordering service, registers around 1.7 million orders monthly and its growth reached 143% last year. The company stands as the market leader in Brazil and other countries in Latin America, which represents a potential 75% of the $10B food delivery market in the region.
Movile’s Rappido, is boosting Brazil’s shipping and logistics sectors and continues to grow internationally. Movile’s award-winning subscription-based children’s entertainment and education platform, PlayKids, has over 6 million monthly users as well as a rich mix of leading content spanning both original shows and beloved series from Disney and Sesame Workshop.
Movile has 15 offices around the world and its mobile products – such as PlayKids, available in more than 100 countries – and services reach more than 70 million people each month. The new funding will support further growth providing the capital required for additional geographic and product expansion.
Over the last three years, Movile has invigorated the Latin American technology ecosystem, investing more than $100 million to build a suite of industry-leading mobile commerce apps and services across the delivery, logistics and streaming media markets.