Brazil-based giftback platform operator CRM&Bonus secured more than R$280m ($50m) in a funding round co-led by telecoms group SoftBank’s Latin America Fund.
Riverwood Capital, Igah Ventures and Volpe Capital co-led the round, which pushed CRM&Bonus to a $190m valuation – or unicorn status in terms of Brazilian real.
Founded in 2018, CRM&Bonus runs a customer reward and loyalty platform for e-commerce and bricks and mortar stores. It promises clients to increase their sales and profit from 5% to 20% and does not charge any fees if the goal is not met, claiming 98% of retailers achieve that growth.
Proceeds from the round have been allocated both to continued growth across Brazil and accelerated international expansion into at least five new markets, particularly in the US and Europe, next year.
The company does not appear to have disclosed any prior funding rounds.
Alex Szapiro, operating partner and head of Brazil at the SoftBank Latin America Fund, said: “We are excited to lead this round in a company that has a high level of innovation as CRM&Bonus.
“The quality of the platform is the materialisation of [co-founder and chief executive Alexandre] Zolko’s entrepreneurial vision and his team’s dedication that goes beyond Brazil’s and Latin America’s borders.
“The company has the potential for outsized growth globally by addressing sales issues across hundreds of thousands of businesses, at a low cost and an excellent return on investment.”
