Brazil's Facily claims 'unicorn' status after $135 mln funding round

  • 12/23/2021
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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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