Brazil-based Technology Company Movile Secures $400 million
A Brazil based technology conglomerate known as Movile has just raised funds amounting to $400 million. This round was led by existing investors including Naspers and Innova Capital.
The funds have basically been raised for its iFood subsidiary. The company was founded by chief executive officer Fabricio Bloisi which began as a digital content studio for mobile device and now has grown into a mobile services and content empire with aspirations of reaching 1 billion people.
The company claimed to have estimated revenues over $240 million and over 150 million monthly active users. iFood alone recorded 10.4 million delivery orders for the month of October.
According to the repors, iFood received 390,000 orders per day in Brazil in the last weeks of October accounting for 109% growth ...