Japan’s SoftBank invests in Brazilian marketplace integrator Olist

REUTERS/Issei Kato

Japan’s SoftBank Group Corp is leading a 190 million reais ($46.65 million) third financing round for Brazilian marketplace integrator Olist, according to a joint statement on Wednesday.

Founded in 2015, Olist serves small brick-and-mortar retailers, making their products available in virtual “stores” within larger online marketplaces.

Olist Chief Executive and founder Tiago Dalvi said the company plans to use part of the proceeds to expand the number of sellers it serves to 100,000 in two years from the current 7,000.

The deal is the latest in a series by SoftBank, which is investing the proceeds of its $5 billion Latin America fund, launched in March.

Olist “offers a lot of room to grow, as few small retailers are in marketplaces yet,” said Paulo Passoni, managing investment partner at SoftBank Group International.

Olist also is responsible for logistics from sellers to consumers.

Dalvi said Olist may add financial products to its platform in the future and is seeking some partnerships with other SoftBank’s portfolio companies, such as Colombian delivery app Rappi and Brazilian logistics company Loggi.

SoftBank invested alongside existing investors Redpoint eventures and Valor Capital.

Reuters 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.