Facily, a Latin American social commerce platform, has raised $135 million in Series D-1 funding. Goodwater and Prosus led the round.
São Paulo, Brasil, XX December 2021 – Facily, the leading social commerce platform in Latin America, has received a US$135 million Series D-1 investment from a group of investors led by Goodwater and Prosus. The round is an extension of the US$250 million Series D announced in November, adding up to more than US$500 million in capital raised by the Company in the past 12 months, and positioning Facily as the first unicorn in the Latin American social commerce space.
Present in 9 states in Brazil and with more than 7 million active users, Facily has experienced exponential growth over the last year, leveraging its asset-light community-group-buying model, logistics network and technology platform. The company now ranks as one of the fastest-growing worldwide shopping apps, according to App Annie.
Facily was founded by Diego Dzodan, Luciano Freitas and Vitor Zaninotto in 2018 with the mission to eliminate the barriers of traditional e-commerce to provide low-income populations in Brazil better access to affordable products. “Our mission is focused on providing our customers with high quality goods at the lowest prices by leveraging community group buying – and all in a very efficient manner,” says Diego Dzodan, co-founder and CEO of Facily.
According to Dzodan, Facily is still in the early stages of addressing the vast market opportunity in just Brazil. Approximately 85% of the Brazilian population spends an average of 65% of their family income on food and so far have been all but excluded from traditional e-commerce.
“Facily’s mission to offer everyday goods at the lowest prices resonates deeply with all Brazilians, especially in a time of rising inflation,” says Chi-Hua Chien, Co-Founder and Managing Partner at Goodwater. “Facily has disrupted multiple supply chains via social commerce and in the process built a powerful platform that provides for the daily needs of millions of Brazilian families.”
“Facily identified early on that social commerce is a rapidly growing, sustainable channel for commerce, yet lacked inclusivity in Latin America,” said Denis Pedreira, Latin America Investments, Prosus. “The company’s model ensures customers have the best prices for goods, expanding access to affordable products with the convenience that comes with online shopping. In line with our investment thesis to zero in on sectors of the economy where technology can lead to meaningful change in consumer behavior and economics, we believe in Facily’s mission and are excited to partner with the team to expand social commerce throughout Latin America.”
Besides Goodwater and Prosus, the round had the participation of other relevant investors, including Spruce House, Rise Capital, JS Capital, Tru Arrow, Quona, Citius and Convivialité Ventures. With the proceeds, Facily will continue investing in technology and logistics, strengthening its position as the leading social commerce platform in Latin America.
“The support of top investors in Latin America and beyond has allowed us to scale exponentially in a short period of time and their ongoing commitment to our strategy validates the huge potential of our business model,” says Dzodan.
Facily is the first social commerce platform in Latin America. Founded in 2018, the business aims to promote group shopping and connect consumers to the best prices and multi-category products.