Brazilian e-commerce solutions company Olist receives $186 million in Series E financing!

Recently, Brazilian e-commerce solutions company Olist received $186 million in Series E financing . The round was led by Wellington Management Company, followed by SoftBank, Goldman Sachs, Valor Capital and other institutions.

This is another round of financing after more than half a year. In April this year, Olist had already received $80 million in Series D financing. Now Olist 's valuation has reached $1.5 billion.

It is understood that Olist was founded in 2015. It is a sales solution company that connects sellers with major e-commerce platforms and relies on technology and market intelligence to help sellers build an online brand image and increase revenue.

In its early days, Olist provided full-stack operational support to merchants by managing product catalogs, inventory, pricing, fulfillment, customer service and payments in one place.

Olist said the company tripled its size in 2021 and completed four acquisitions last year, including social commerce startup Clickspace, logistics company PAX, small business commerce tools VNDA and Tiny ERP.

Currently, the company starts from a single core connecting merchants and markets, and gradually develops into a complete 3D integrated product ecosystem.

On the commerce side, Olist has Olist Store, the leading solution for selling in the market. In addition to this, the company has Olist Shops, a mobile-first e-commerce solution that natively connects to social media and is currently present in 180 countries.

In logistics, Olist Pax is Brazil's leading cloud-based logistics and fulfillment network provider; in payments, Olist owns Olist Credit and Olist Pay.

Currently, Olist has more than 45,000 customers (sellers and e-commerce platforms) and plans to break the 100,000 mark by the end of 2022, and expansion in Latin America will be key to this process.

Latin America has been a region that has seen increasing e-commerce adoption. The region’s $85 billion e-commerce market is growing rapidly and is expected to reach $116.2 billion by 2023.

The startup has undoubtedly benefited from the global e-commerce boom as more people turn to online shopping. Olist said its revenue in the first quarter of 2021 tripled from the previous year to a record high. Bloomberg also reported that the company doubled its revenue in 2020.

Brazil

E-commerce

Financing