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

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

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. 

 

This article was updated on March 31, 2021

M Ryan

M Ryan is an ecommerce consultant with twenty years experience working with retailers, consumer brand manufacturers and other consumer-facing businesses helping them to develop their ecommerce strategy, implement ecommerce technology and improve their ecommerce operations. He works extensively throughout US and Europe, with clients including global brands, large retailers and household names in consumer goods.