According to TechCrunch, Olist connects small businesses to larger product marketplaces to help entrepreneurs sell their products to a larger customer base. The company was founded with the mission of helping small merchants gain market share across the country through a SaaS licensing model to small brick and mortar businesses.
Olist Store, the company’s flagship product, gives merchants a way to manage product listings, logistics and store payments. It also offers an improved sales experience through channels such as Mercado Livre, B2W, and Via Varejo.
Besides, in 2020, Olist launched Olist Shops, enabling users to create a virtual showcase 'in less than 3 minutes' that also offers payment checkout tools and integration with logistics operators. Shops has interfaces in Portuguese, English, and Spanish, and since its launch, it has attracted more than 200,000 users in 180 countries, according to the company.
Furthermore, the company plans to use its new capital to invest in technology and products, pursuing new mergers and acquisitions and boosting its internationalisation process. This is on top of two acquisitions Olist made last year – Clickspace and Pax Logistica – which gave Olist entry into the heated logistics space with more than 4,000 registered drivers, TechCrunch reported.
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