Naspers, Innova Capital invest USD53 million in Movile


Naspers and Innova Capital have both participated in a funding round to raise USD53 million for Movile.

Naspers is Africa’s most valuable company and tech investor with USD114 billion stake in China’s Tencent Holdings

Movile is a mobile marketplace which according to a statement by Naspers, the fund will be used to ‘fuel growth in food delivery, tickets and education apps as well as in Rapiddo, an Online-to-Offline (O2O) platform recently launched that consolidates several popular consumer services in one convenient place’.

Naspers said it led the funding round Naspers, by injecting USD30 million into Movile.

The latest funding round is a follow up to the USD23 million that was invested in the past few months with participation from Innova Capital.

“Movile is in a strong position to use this new investment to realize our dream of impacting one billion people through our products and services,” said Fabricio Bloisi, CEO of Movile. “Naspers and Innova Capital have been great long-term partners, and we look forward to continue working with them.”

Naspers said that Movile’s ecosystem has approximately 100 million monthly active users (MAU) combining all its businesses. The company has been acquiring and building leading mobile businesses in LatAm for more than a decade including iFood (food delivery marketplace), PlayKids (kids content marketplace), Rapiddo Delivery (cloud delivery marketplace), Maplink (cloud-based routing for deliveries), Sympla (tickets marketplace) and Superplayer (music marketplace).

Movile is expected to leverage its expertise, footprint, and the new funding to enable and accelerate growth across all of its businesses including building Rapiddo to combine heavily used O2O services into one place.

Innova Capital is a private equity fund focused on high-growth innovative companies in Latin America and the US. Innova Capital manages capital for global investors with a long-term perspective on their investments. Innova has a concentrated portfolio with active involvement of its partners. Some of the largest current investments have at its core a strong mobile technology component, such as Movile, Snapchat, Sigga, Accera and Trade Force.

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