PAG Law Steers Nuvemshop's $500 million Series E Round
By: PAG Law PLLC
MIAMI - Aug. 17, 2021 - PRLog -- PAG Law represented Nuvemshop, the leading e-commerce platform in Latin America, in a $500 million Series E funding round led by Insight Partners and Tiger Global Management. Alkeon, Owl Rock, Accel, Kaszek, Qualcomm Ventures and ThornTree Capital also participated in the round.
The oversubscribed round brings Nuvemshop's total funding to more than $600 million and cements the company's unicorn status with a $3.1bn valuation (BRL 16 bn).
The company, also known as Tiendanube in Spanish-speaking countries, is the top e-commerce platform in Latin America, empowering entrepreneurs to build and grow thriving online businesses. Nuvemshop helps micro, small and medium enterprises in Latin America accelerate their digital transformation by offering a one-stop shop of seamlessly integrated solutions that enable them to sell online.
Latin America is not only a huge market (with over 650 million consumers), it is now the fastest-growing e-commerce market in the world, reaching $85 billion in total sales, with a still relatively low market penetration of 5-10%.
The PAG Law deal team was led by partner Peter Eccles and associate Ramon Abreu de Lima, and also included partners Juan Pablo Cappello and Liz Flores.
PAG Law has represented Nuvemshop through several rounds of financing, including a $90 million Series D round led by Accel earlier this year.
Click here to read the press release.