PetLove, a Brazil-based pet product retailer that counts internet and telecommunications group SoftBank as an investor, has merged with DogHero, a local animal services provider backed by petsitting service Rover.
DogHero offers accommodation, walking and petsitting services in addition to home veterinarian appointments, while PetLove runs an e-commerce platform specialising in petcare products.
The deal follows PetLove’s acquisitions of veterinary service providers Vet Smart and Vetus over the past year.
SoftBank’s Latin America fund agreed to invest $47.5m in PetLove in April this year before private equity firm L Catterton added a reported $25m in June. It had previously raised at least $15m in equity funding from investors including Tiger Global Management, Monashees, Tarpon and Kaszek Ventures.
Rover and Ignia Partners supplied $7m for DogHero in March 2019, following $14m from backers including Kaszek Ventures and Monashees since 2014.
