VTEX, an e-commerce platform used by Walmart, raises $140M led by SoftBank’s LatAm fund

E-commerce now accounts for 14% of all retail sales, and its growth has led to a rise in the fortunes of startups that build tools to enable businesses to sell online. In the latest development, a company called VTEX — which originally got its start in Latin America helping companies like Walmart expand their business […]

OLX Group invests up to $400M in used car marketplace Frontier Car Group at $700M valuation

Frontier Car Group, the Berlin-based startup building used car marketplaces targeting high-growth, emerging markets, has picked up another significant round of funding from a strategic backer also focusing on the same geographical opportunity. Today, OLX, the online classifieds division Prosus (the digital division of Naspers that listed earlier this year in Europe) announced that it […]

Naspers CEO Bob van Dijk to talk about late-stage bets at Disrupt Berlin

South African internet company Naspers isn’t a particularly well-known name in the startup community. And yet, the company made an early investment in a small Chinese company called… Tencent. Naspers still retains a 31% stake in Tencent that is valued at around $100 billion (with a B). That’s why I’m excited to announce that Naspers […]

Latin America Roundup: Uber acquires Cornershop, SoftBank invests in Buser and Olist

Sophia Wood Contributor Sophia Wood is a principal at Magma Partners, a Latin America-focused seed-stage VC firm with offices in Latin America, Asia and the U.S. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source. More posts by this contributor Latin America Roundup: SoftBank bets on Brazilian unicorns and […]

India’s Meesho raises $125M to expand its social commerce business

Meesho, a Bangalore-based social commerce startup, has raised $125 million in a new financing round to expand its business in the country and change the way millions shop online. The Series D round was led by Naspers, and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway participating as well. Facebook also participated in the […]

Brainly, a crowdsourced homework helper for students, raises $30M to expand in the US

When it comes to turning the wheels of the internet, crowdsourcing is a key component of the engine: the power of people can fund big ideas and good causes; it can help you decide what (or what not) to buy, read, watch or listen to when faced with too much choice; it can help unite […]

Remitly raises $220M to expand from money transfers to financial services, now at ~$1B valuation

When it comes to financial services in emerging markets, remittances — people sending money to each other across international borders, often not to established bank accounts — continues to be one of the biggest, with the World Bank estimating that $529 billion was sent in and out of lower-income countries in 2018, up 9% over […]

PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment

PayU, the Naspers owned fintech firm that specializes in emerging markets, is broadening its global reach into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. Naspers is best known for its payments and fintech business in markets like India, Latin America, Africa and Eastern Europe, but […]

From seed to Series A: Scaling a startup in Latin America today

Nathan Lustig Contributor Nathan Lustig is an entrepreneur and managing partner at Magma Partners, a seed-stage investment fund in Santiago, Chile. More posts by this contributor Latin America is the next stage in the race for dominance in the ride-hailing market Latin America’s Movile is quietly building a mobile empire It’s not easy to raise […]

India’s edtech startup CollegeDekho raises $8 million to connect students with colleges

Indian edtech startup CollegeDekho, which helps students connect with prospective colleges and keep track of exams, has raised $8 million in Series B round. The new financing round for the four-year-old Gurgaon-based startup was led by its parent company Girnarsoft Education and London-based private equity investor Man Capital, which also participated in the startup’s Series […]