Nuvemshop Raises $500 Million from Insight Partners

Nuvemshop, Latin America’s foremost e-commerce platform, has announced the completion of a Series E funding round, having raised US$500m in fresh capital injection at a US$3.1bn valuation.

The round was led by Tiger Global Management and Insight Partners. Other participants in this found include Alkeon, Owl Rock, Sunley House Capital and VMG Partners.

Existing backers also participated, including Accel, Kaszek, Kevin Efrusy, Qualcomm Ventures LLC, and ThornTree Capital. 

This new round follows the firm’s previous Series D round in which it raised US$90m. It also brings Nuvemshop’s total funding raised in the past 10months to over US$620m.

Nuvemshop (also branded as Tiendanube in Spanish speaking markets) serves as a platform where entrepreneurs can build and grow thriving online businesses. The platform has a presence in Argentina, Brazil, and Mexico and serves over 90,000 merchants.