Image of VTEX office in Rio de Janeiro pre-pandemic (Source: VTEX)

News - VTEX raises $225m funding valuing it at $1.7bn

By M Ryan September 30, 2020

September 30th, 2020. VTEX, a member of our ecommerce platform shortlist, today announced that it has received an additional $225m in funding from private equity investors including Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank.

Co-CEOs Mariano Gomide de Faria and Geraldo Thomaz noted blandly that this investment would "support us in achieving our mission to accelerate digital commerce transformation around the world" for a "commerce platform that is now present in more than 40 countries" without giving any specific details of how this money would be allocated.

The company has certainly achieved substantial growth and much wider recognition in the market over the past 12 months, with 1,000 new customers going live, 100 developers added to its product engineering (R&D) function and $8bn in gross merchandise value (GMV) expected to be processed through the platform in calendar 2020.