VTex, a Brazil-based provider of end-to-end e-commerce services, secured $225m in a series D round on Wednesday from investors including telecommunications conglomerate SoftBank.
Tiger Global Management, Lone Pine Capital, Constellation Asset Management and Endeavour Catalyst also contributed to the round, which valued VTex at $1.7bn.
Founded in 2000, VTex has developed software to handle business-to-business and business-to-consumer commerce operations, unifying all aspects, such as order management and connecting with suppliers, in a single platform.
The platform is used to power more than 3,000 online stores for companies such as Coca-Cola, Nestlé, Walmart, Sony and Motorola.
The series D capital will facilitate recruitment, platform development, enable accelerated business growth in the US, Europe and Asia Pacific as well as allow VTex to make acquisitions.
SoftBank led a $140m funding round for VTex in November 2019, when it invested through its Innovation Fund and was joined by Gávea Investimentos and Constellation Asset Management.
Internet group Naspers paid a reported $10.7m in 2012 for a 27.7% stake in VTex, but subsequently sold 25% to Riverwood Captial and the remainder to VTex co-founders Mariano Gomide and Geraldo Thomaz for $10.4m in 2015 (though in Brazilian real terms it made a profit on its BRL22m investment for a BRL30m exit).
