Nuvemshop Valuation, Funding & Investors

Nuvemshop is valued at $3.1B as of August 2021.

Last Nuvemshop valuation

$3.1B

Series E · Aug 2021

Last Nuvemshop funding round

$500M

Series E · Aug 2021

Cumulative funding Nuvemshop raised

$628M

across 6 funding rounds

Key investors in Nuvemshop

  • Kaszek
  • Qualcomm Ventures
  • Accel
  • FJ Labs
  • IGNIA
  • Elevar Equity

Nuvemshop Overview

About Nuvemshop

Nuvemshop, known as Tiendanube in Spanish-speaking markets, is a Latin American e-commerce platform that lets merchants build and run online stores. It was founded in 2011 in Buenos Aires by Santiago Sosa, Alejandro Vazquez, Martin Palombo, Alejandro Alonso and Jose Abuchaem, and it is now headquartered in Sao Paulo. The platform is sold as a subscription service and adds payments through Nuvem Pago, shipping through Nuvem Envio, marketing automation and conversational sales tools. It reports more than 180,000 active brands, merchant sales above R$6.5 billion in 2025 and about 1,200 employees. Backers include Kaszek, Elevar Equity, Qualcomm Ventures, Accel, Insight Partners and Tiger Global. A US$500 million Series E in August 2021 valued the company at US$3.1 billion. It bought the logistics platform Mandae in 2021, the education company Ecommerce na Pratica in 2021 and the marketing automation company Perfit in 2023.


Founded

2011

HQ

BrazilSão Paulo

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$3.1B (Aug 2021)

Nuvemshop Valuation

Nuvemshop is currently valued at $3.1B, based on its Series E in August 2021. Read the announcement ↗

The $500M round was led by Insight Partners and Tiger Global, with participation from Qualcomm Ventures, Blue Owl Capital Inc., VMG Partners, ThornTree Capital Partners, Kaszek and 4 other investors.

Nuvemshop valuation by funding round

Nuvemshop valuation by funding round
DateStageValuation
Aug 2021Series E$3.1B

Nuvemshop Funding History

Nuvemshop has raised a total of $628M across 6 funding rounds.

Nuvemshop's first fundraising round was a $1M seed round in March 2013. The most recent completed round was a $500M Series E in August 2021.

Nuvemshop funding rounds

Nuvemshop funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2021Series EInsight Partners (lead); Tiger Global (lead); Qualcomm Ventures; Blue Owl Capital Inc.; VMG Partners; ThornTree Capital Partners; Kaszek; Kevin Efrusy; Accel; Sunley House Capital Management; Alkeon Capital$500M$3.1BNuvemshop, a leading Latin American e-commerce platform also known as Tiendanube in Spanish-speaking countries, raised $500 million in a Series E funding round on August 17, 2021, co-led by Insight Partners and Tiger Global Management. The round valued the São Paulo-based company at $3.1 billion post-money, following a $90 million Series D in March 2021, bringing total funding over the prior 10 months to over $620 million. Other participants included Alkeon, Owl Rock (now Blue Owl Capital), Sunley House Capital, VMG Partners, and existing investors Accel, Kaszek, Kevin Efrusy, Qualcomm Ventures, and ThornTree Capital. The platform empowers entrepreneurs to build and grow online businesses, serving over 90,000 merchants across Brazil, Mexico, and Argentina at the time of the round—up from 20,000 at the start of 2020 and 80,000 in March. Clients range from direct-to-consumer startups to established brands like PlayMobil, Billabong, Colombraro, Zaira Beauty, Osram, Lolja, Vitabe, and StrappyCo. Often positioned as Latin America's answer to Shopify, Nuvemshop focuses on solutions tailored for regional merchants to foster direct customer relationships. Proceeds will accelerate growth in existing markets, support expansion into Colombia, Chile, and Peru, enhance capabilities for larger merchants via expanded sales and support teams, and invest in its app partner and agency ecosystem. The company also plans to advance payment and logistics features, including potential acquisitions, to drive e-commerce penetration amid Latin America's rapid market growth and 650 million consumers. Leadership emphasized Nuvemshop's role in regional digital transformation, with CEO Santiago Sosa highlighting tailor-made solutions for Latin American merchants and the potential for faster payments and delivery to explode e-commerce adoption. Insight Partners' Matt Gatto noted the company's unique positioning in the world's fastest-growing e-commerce market.
Mar 2021Series DAccel (lead); Qualcomm Ventures; Jamie Sutton; Bradley Horowitz; Kevin McKeand; Mike Micucci; ThornTree Capital Partners; Kaszek; Minesh Shah; Mark Lavelle; Mark Lenhard$90M-Nuvemshop is a leading Latin American e-commerce platform, often compared to Shopify, enabling merchants to build online stores tailored for the region. It provides tools for direct-to-consumer sales, payments, logistics, and app ecosystems, targeting rapid growth in markets like Brazil, Argentina, Mexico, and expanding into Colombia, Chile, and Peru. The platform supports merchants from small passion projects to larger enterprises amid Latin America's booming e-commerce sector, which features 650 million consumers and fast adoption driven by smartphones. On March 22, 2021, Nuvemshop raised $90 million in a Series D round led by Accel, with participation from ThornTree Capital Partners, Kaszek, Qualcomm Ventures, and others including Bradley Horowitz, Jamie Sutton, Kevin McKeand, Mark Lavelle, Mark Lenhard, Mike Micucci, Minesh Shah. Accel partner Andrew Braccia joined the board. The funding aimed to catalyze e-commerce and entrepreneurship across Latin America by enhancing platform capabilities during unprecedented adoption. Just five months later, in August 2021, Nuvemshop raised a $500 million Series E round co-led by Insight Partners and Tiger Global Management at a $3.1 billion valuation, with participation from Alkeon, Owl Rock, Sunley House Capital, VMG Partners, and existing backers like Accel, Kaszek, Qualcomm Ventures, and ThornTree Capital. This brought total funding in 10 months to over $620 million. Funds from both rounds supported geographic expansion, sales and customer support growth, app ecosystem investments, payment and logistics acceleration, and M&A opportunities. Nuvemshop positioned itself as the standard for Latin American merchants to drive e-commerce penetration from 6% toward 60% over the decade. Competitive context highlights Nuvemshop's market leadership in Latin America, powering thousands of stores and focusing on regional specifics like faster payments and delivery to fuel growth.
Oct 2020Series CKaszek (lead); Qualcomm Ventures (lead); FJ Labs; Elevar Equity; Kevin Efrusy; IGNIA$30M-Nuvemshop, a Brazil-based e-commerce platform also known as Tiendanube in Spanish-speaking markets, provides a suite of software tools including subscription and transaction fees starting at $3 per month to help small and medium-sized businesses (SMBs) build and grow online stores, positioning itself as Latin America's answer to Shopify. The company empowers thousands of merchants across Brazil, Mexico, and Argentina with integrated solutions for digital transformation, payments, and logistics. On October 13, 2020, Nuvemshop raised $30 million in a Series C round co-led by Kaszek Ventures and Qualcomm Ventures, with participation from FJ Labs, Ignia Partners, Elevar Equity, and individual investor Kevin Efrusy. This followed earlier rounds including a $5 million investment from Kaszek in 2015 and a $7 million Series B in 2017 led by Elevar Equity alongside NXTP Labs, Ignia, FJ Labs, and Kaszek. The Series C funding aimed to scale operations amid growing e-commerce demand in Latin America, where local pain points for SMBs are addressed through the platform's engineering focus. Post-Series C, Nuvemshop continued rapid expansion with a $90 million Series D in March 2021 led by Accel and backed by Qualcomm Ventures, ThornTree Capital, Kaszek, and others, followed by a $500 million Series E in August 2021 co-led by Insight Partners and Tiger Global at a $3.1 billion valuation, involving Alkeon, Owl Rock, Sunley House Capital, VMG Partners, and prior investors like Accel, Kaszek, Kevin Efrusy, and Qualcomm Ventures. These later rounds brought total funding over $620 million, supporting international growth into Colombia, Chile, and Peru, enhanced payments and logistics, sales and support scaling, and M&A opportunities. In 2020, key metrics like transactions tripled, reaching 14 million, reflecting massive online transition.
Sep 2017Series BElevar Equity (lead); NXTP Ventures; FJ Labs; Kaszek; IGNIA$7M-Tienda Nube, the Argentine-founded e-commerce platform now called Nuvemshop in Brazil, raised a US$7 million Series B reported on 20 September 2017. The round was led by Elevar Equity, an impact investment firm, with IGNIA, Kaszek Ventures, NXTP Labs and FJ Labs also taking part. The company had raised more than US$10 million in total by then, starting with a US$300,000 angel round in 2011. It described itself as a cloud e-commerce provider for entrepreneurs and small businesses in Latin America and served more than 16,000 merchants. The new capital was intended to extend its platform across Brazil, Argentina and Mexico. Nuvemshop later raised a US$30 million Series C in 2020 and a US$500 million Series E in 2021.
Jan 2015Series AKaszek (lead)--Tiendanube, the Argentine-founded e-commerce platform now called Nuvemshop, received a Series A investment from the venture fund Kaszek Ventures, in a deal the company says was closed at the beginning of 2015 and announced later. The amount was not published in the announcement. The company lets businesses create their own online stores in minutes and reported more than 130,000 stores created on its platform. It had earlier raised a US$300,000 angel round in 2011 and US$1 million from Trindade Investimentos in 2013. Kaszek stayed an investor and later took part in the US$7 million Series B in 2017 and co-led the US$30 million Series C in 2020. The company, now headquartered in Sao Paulo, became a unicorn with a US$500 million Series E in August 2021.
Mar 2013SeedTrindade Investimentos (lead)$1M-Nuvemshop, the Latin American e-commerce platform known as Tiendanube in Spanish-speaking markets, raised US$1 million from the Brazilian investment firm Trindade Investimentos in 2013. It followed a US$300,000 angel round in 2011, the year the company was founded in Buenos Aires, and came before the Series A from Kaszek Ventures and the US$7 million Series B led by Elevar Equity in 2017. The company's own timeline lists the Trindade investment among its early financing milestones. Nuvemshop lets entrepreneurs and small businesses create and run online stores through a subscription platform, and it later added payments, shipping and marketing tools. It now reports more than 180,000 active brands and is headquartered in Sao Paulo, with a valuation of US$3.1 billion set in its 2021 Series E.

Who has invested in Nuvemshop?

23 investors have backed Nuvemshop across its funding rounds, including Kaszek, Qualcomm Ventures, Accel, FJ Labs, IGNIA and Elevar Equity.

Lead investors include Insight Partners, Tiger Global, Accel, Kaszek, Qualcomm Ventures and 2 other investors.


Nuvemshop Investors

Investors in Nuvemshop by funding rounds participated
InvestorHQRoundsRoleFirst check
KaszekBrazilSão Paulo5LeadJan 2015
Qualcomm VenturesUnited StatesSan Diego, CA3LeadOct 2020
FJ LabsUnited StatesNew York City, NY2ParticipantSep 2017
ThornTree Capital PartnersUnited StatesBoston, MA2ParticipantMar 2021
Elevar EquityUnited StatesSeattle, WA2LeadSep 2017
Kevin EfrusyUnited StatesPark City, UT2ParticipantOct 2020
AccelUnited StatesPalo Alto, CA2LeadMar 2021
IGNIAMexicoMonterrey2ParticipantSep 2017
Blue Owl Capital Inc.United StatesNew York City, NY1ParticipantAug 2021
Jamie SuttonUnited StatesCharleston, SC1ParticipantMar 2021
VMG PartnersUnited StatesSan Francisco, CA1ParticipantAug 2021
Bradley HorowitzUnited StatesSan Francisco, CA1ParticipantMar 2021
NXTP VenturesArgentinaBuenos Aires1ParticipantSep 2017

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Acquisitions by Nuvemshop

Nuvemshop has acquired 3 companies to date.

Last acquisition by Nuvemshop was on December 5th 2023. Nuvemshop acquired Perfit Email Marketing for undisclosed valuation.


Latest Acquisitions by Nuvemshop

Perfit Email Marketing
Ecommerce na Prática
Mandaê
Description
Perfit Email Marketing is a Montevideo-based digital marketing platform delivering email automation, transactional messaging, and SMS campaigns. It provides content personalization, A/B testing, and e-commerce integrations for brands in Latin America. The service supports journey builders and real-time analytics to optimize customer engagement across retail and service industries.
-
Mandaê is a Brazilian logistics company that collects and delivers parcels for small and medium-sized e-commerce businesses, using its own assets and a network of carriers. It was founded in Sao Paulo in 2014 by Marcelo Fujimoto and a co-founder as an alternative to the national postal service for small shippers. Its website reports more than 1,000 active clients, about seven million deliveries a year, coverage of 5,500 cities and more than 50 integrations with e-commerce platforms and ERP systems. Investors included Kima Ventures, Qualcomm Ventures, Monashees, Valor Capital, IFC, UPS Strategic Enterprise Fund and Mercado Libre Fund, and it raised a USD 7.1 million Series B in 2018. Nuvemshop acquired the company in October 2021 and integrated it fully into its platform as its first step into logistics for small businesses.
HQ CountryArgentinaBrazilBrazil
HQ City
Buenos Aires
Rio de Janeiro
Sao Paulo
Deal Date5 Dec 20233 Dec 20211 Oct 2021
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Nuvemshop Competitors

Nuvemshop competitors include listed companies like THG, Alibaba Group and Wix.com, and private ones like Weidian Group, Chargebee and Mirakl.

Public and private companies comparable to Nuvemshop
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
THGUnited KingdomUnited KingdomPublicly listed$2.3B$132M$832M0.6x
Weidian GroupChinaBeijingPrivate--$1.4B-
Alibaba GroupChinaChinaPublicly listed$154B$15B$246B1.5x
Wix.comUnited StatesUnited StatesPublicly listed$2B($13M)$3.2B1.9x
ChargebeeUnited StatesSan Francisco, CAPrivate$115M-$3.5B30.4x
MiraklFranceParisPrivate$100M-$3.5B35.0x

Nuvemshop Public Comps

Nuvemshop is still privately-owned, but its public comps include Xingyun Technology, Wix.com, Inchcape, Xinhua Winshare, GigaCloud Technology, Vishal Mega Mart, momo.com, Polibeli Group, Blibli and Modivo.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Xingyun Technology$22M($14M)141.1x-(218.5x)-
Wix.com$2B($13M)2.2x1.9x(343.5x)14.8x
Inchcape$12B$864M0.3x0.3x4.4x4.2x
Xinhua Winshare$1.7B$250M0.7x0.7x4.9x5.9x
GigaCloud Technology$1.3B$158M1.7x1.5x14.0x11.0x
Vishal Mega Mart$1.4B$206M3.1x2.8x20.1x19.2x
momo.com$3.3B$145M0.6x0.6x13.1x12.8x
Polibeli Group$26M($4M)74.6x-(483.0x)-

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Common questions about Nuvemshop

When was Nuvemshop founded?Nuvemshop was founded in 2011.
Where is Nuvemshop headquartered?Nuvemshop is headquartered in São Paulo, Brazil.
Is Nuvemshop publicly listed?No, Nuvemshop is a private, VC-backed company.
What is Nuvemshop's valuation?Nuvemshop was last valued at $3.1B in its Series E in August 2021.
How much funding has Nuvemshop raised?Nuvemshop has raised $628M across 6 funding rounds.
What was Nuvemshop's last funding round?Nuvemshop's last funding round was a $500M Series E in August 2021, led by Insight Partners and Tiger Global.
Who are Nuvemshop's investors?Nuvemshop's investors include Kaszek, Qualcomm Ventures, FJ Labs, ThornTree Capital Partners, Elevar Equity, Kevin Efrusy, Accel, IGNIA, Blue Owl Capital Inc., Jamie Sutton and 13 others.
Which companies are comparable to Nuvemshop?Companies comparable to Nuvemshop include THG, Weidian Group, Alibaba Group, Wix.com, Chargebee and Mirakl.
How many companies has Nuvemshop acquired?Nuvemshop has acquired 3 companies, including Perfit Email Marketing, Ecommerce na Prática and Mandaê.

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