back to news overview

Movile receives new $82 million investment from Naspers and Innova Capital

Movile receives new $82 million investment from Naspers and Innova Capital Investment will be used to expand Movile’s presence in the food delivery segment

São Paulo, November 2017 - Movile, a global leader in mobile marketplaces, announced today that the company has raised a new round of capital. Naspers, a global internet and entertainment group, led the investment with participation from the global investment fund Innova Capital.  The new capital will be used to further expand all of Movile’s businesses, and a large portion will be used to increase Movile's participation in iFood, the leader in food delivery in Latin America.

"The food delivery market is expanding rapidly across the globe and iFood is at the forefront of innovation and growth as the leading food delivery business in Latin America. With that in mind, we will continue to invest in the company to scale iFood’s technology platform and accelerate product development so they can fulfill more orders and also provide an even better experience for restaurants and consumers," explains Fabricio Bloisi, CEO at Movile. "We also have plans to invest more in tickets and, potentially, new areas where Movile Group can bring value to entrepreneurs and companies in their growth phase.”

“Naspers has been a long-time investor in Movile because we believe in their ability to build transformative mobile businesses in Latin America and beyond,” said Naspers Ventures CEO Larry Illg. “iFood in particular has demonstrated impressive execution and growth reaching 6.2M monthly orders in October 2017, becoming the leader in Latin America for food delivery, and continuing to expand throughout the region.”

“At Innova we are very excited to continue to support Movile’s talented team in its growth, helping accelerate the ifood and tickets platforms and investing in new businesses that can leverage the active user base that Movile has built. We believe Movile has many opportunities to continue to grow exponentially, including in logistics and financial services, among others” said Veronica Allende Serra, Founding Partner of Innova Capital Fund.

Since its foundation, Movile has raised more than $250 million. The capital has been used to expand the company-owned businesses, intensify its operations in the O2O market (online-to-offline) and to accomplish more than 20 mergers, acquisitions and investments in startups such as PlayKids, Sympla, iFood, Rapiddo, Maplink, Apontador and SuperPlayer, among others.

For more information on Movile, please visit: http://www.movile.com/
To search for job opportunities at Movile, please visit: http://movile.com/careers 

About Movile
Movile is a leader in mobile marketplaces and our big dream is to make life better for one billion people through their applications. The company, which operates in Brazil, the United States, France, Mexico, Colombia, Peru and Argentina, already sums up more than 100 million monthly active users. With 1600 employees passionate about the same dream, empowered to build new businesses with global potential and motivated to take risks, Movile's main pillars are: food, tickets, education & care.

About Naspers
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.

Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, Delivery Hero, eMAG, Flipkart, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, SinDelantal, Swiggy, Twiggle, and Udemy. Similarly, hundreds of millions of people have made the platforms of its associates Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), and MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) a part of their daily lives.

About Innova
Founded in 2009, Innova manages capital for leading investors with a long term view and global presence. The Innova founders are experienced investors having been involved in the largest technology transactions in Latin America. Innova focuses on innovation and growth, looking to back exceptional entrepreneurs who will develop leading companies innovating in their industries. Some of the current investments of Innova include Clearsale (leading anti-fraud platform for online transactions), Accera-Tradeforce (leading player in the information for FMCG in distribution, retail and execution at POS), Sigga (leading player in enterprise asset management software), Snap (one of the leading social messaging networks) and Movile, the largest mobile content and services player in Latin America.

Share this story