Brazils Facily claims unicorn status after $135 mln funding round – Reuters

SAO PAULO, Dec 23 (Reuters) – Brazilian social e-commerce platform Facily said on Thursday it had achieved a $1 billion valuation to become the country’s newest tech “unicorn” following its latest funding round.

The $135 million funding round, led by venture capital investors Goodwater and Prosus was an extension of its $250 million series D announced last week. Rise Capital, Emerging Variant and Tru Arrow also took part.

Founded in 2018 and focused on online sales to Brazil’s low-income families, Facily grew sharply during the COVID-19 pandemic.

The company said the funding round proceeds will be used to invest in logistics, user experience and fund expansion next year.

A unicorn company refers to a startup that has achieved a valuation of more than $1 billion. Facily did not give further details on its valuation.

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Reporting by Aluisio Alves, writing by Tatiana Bautzer; Editing by Kirsten Donovan

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