The Atlantic Report

Movile Raises $53M From Naspers & Innova Capital

Movile Raises $53M From Naspers & Innova Capital

The investment will enable growth across Movile’s core business, and a quicker deployment of recently launched Rapiddo, a mobile marketplaces platform in LatAm

SAO PAULO, BRAZIL – 29 Jun, 2017 – Movile, a leader in mobile marketplaces, announced today that Naspers and Innova Capital have invested a total of $53M to fuel Movile’s growth in food delivery, tickets, and education, as well as Rapiddo (“Fast” in Portuguese), an Online-to-Offline (O2O) platform that consolidates several popular consumer services in one convenient place – launched last month.

Naspers, a long time investor in Movile, led the new round recently injecting $30M into the company, in addition to another $23M that was invested in the past few months with participation from Innova Capital. The latest rounds of investment will help with the development and growth of Movile’s core business and Rapiddo across Latin America (LatAm).

“Movile is in a strong position to use this new investment to realize our dream of impacting one billion people through our products and services,” said Fabricio Boisi, CEO of Movile. “Naspers and Innova Capital have been great long-term partners, and we look forward to continuing working with them.”

Currently, Movile’s ecosystem has approximately 100M monthly active users (MAU) combining all its businesses. The company has been acquiring and building leading mobile businesses in LatAm for more than a decade including iFood (food delivery marketplace), PlayKids (kids content marketplace), Rapiddo Delivery (cloud delivery marketplace), Maplink (cloud-based routing for deliveries), Sympla (tickets marketplace) and Superplayer (music marketplace). Movile will leverage its expertise, footprint, and new investments to enable and accelerate growth across all of its businesses including building Rapiddo to combine heavily used O2O services into one place.

The Global Mobile First Landscape Is Accelerating

Mobile commerce is an important driver of new growth for businesses. Platforms like Tencent/WeChat in China and Line in Japan are reaping huge benefits from integrating products and services on a mobile-first O2O platform, starting the customer interaction on their devices and receiving products and services in real life.

Google recently launched Areo in India with the same concept. Following this trend, Rapiddo will be the first O2O consolidated mobile marketplace in LatAm and leverages the leading O2O services that Movile has developed over the years. Top-up services for pre-paid phones has already been launched on Rapiddo and within two months, the platform has already attracted one million users. Rapiddo will roll out additional services including food delivery, grocery delivery, ticketing, courier delivery services and more. In addition, the company will be welcoming select partners to join the platform to address a multitude of consumer needs, like Taxis, which will provide users with quick and easy access to transportation within Rapiddo.

“Over the past five years, Movile has created and scaled successful O2O and content businesses in Latin America, impacting millions of users every day. The next step to build on Movile’s success is to build an O2O platform combining all these services in a single mobile destination,” says Mauro Piazza, Director of Rappido. ”Initially we are soft-launching Rapiddo for pizza ordering, news, top-ups and music streaming in Campinas and the intention is to roll-out more features and expand to other cities in the next few weeks.”

About Movile

Movile is a leader in mobile marketplaces, and our big dream is to make life better for 1 billion people through our apps. We’ll accomplish this by working with people who are completely passionate to achieve this dream, empowered to build new businesses with global potential and driven to take risks to learn as fast as we grow.

About Naspers

Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 130 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.

Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, Delivery Hero, eMAG, Flipkart, ibibo, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, Swiggy, Twiggle, and Udemy. Similarly, hundreds of millions of people have made the platforms of its associates Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), and MakeMyTrip Limited(www.makemytrip.com; NASDAQ:MMYT) a part of their daily lives.

Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com.

About Innova Capital

Innova Capital is a private equity fund focused on high-growth innovative companies in Latin America and the US. Innova Capital manages capital for global investors with a long-term perspective on their investments. Innova has a concentrated portfolio with active involvement of its partners. Some of the largest current investments have at its core a strong mobile technology component, such as Movile, Snapchat, Sigga, Accera and Trade Force.

Media Contact
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Contact Person: Jarie Bolander
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Country: United States
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