The round was co-led by Insight Partners and Tiger Global Management, with significant participation from Alkeon and Owl Rock. The retailer will add another 300 people to its payroll and expand operations to Colombia, Chile, and Peru. Nuvemshop, known as Tiendanube in Spanish-speaking countries, was founded in 2010 and currently has 1,200 employees.
Nuvemshop has expanded its footprints across Brazil Argentina, and Mexico, where it already has a network of 90,000 merchants. In a statement, Nuvemshop emphasised that it would remain an open platform, but unveil a payment app soon.
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