Publish Date : 04-May-2018
IFC, a member of the World Bank Group, announced an investment in Manda, a technology company providing high-quality and efficient parcel shipment service for small- and medium-sized e-commerce enterprises in Brazil. IFCs investment in Manda will help the parcel logistics sector in Brazil to grow and gain more efficiency.
IFC is leading a Series B investment round in Manda, along with other investors. Other participants include UPS Strategic Enterprise Fund, Mercado Libre Fund, Tekton Ventures, FJ Labs, and existing investors Performa Investimentos, Qualcomm Ventures (the investment arm of Qualcomm Incorporated), Monashees, and Icon Holding Company. Total investment in the Series B round is of US$ 7.1 million.
Brazil has one of the largest e-commerce markets in Latin America, representing approximately 5% of the countrys retail sales. However, there remain opportunities for growth to reach levels observed in developed markets where some countries register e-commerce penetration rates of 10-12% of total retail sales. To facilitate this growth, small- and medium-sized ecommerce companies need access to more affordable and efficient shipping options to support the robust consumer demand.
The continued growth of e-commerce is one of the mega-trends shaping our world right now, and logistics is adapting and transforming as a result, said Manda cofounder and CEO Marcelo Fujimoto. Our view is that disintermediation across the supply chain is creating even larger opportunities for improvement in the parcel space. Through our platform, Manda is redefining the quality, experience, and flexibility of shipping a package. Were extremely excited to partner with IFC to help us continue to grow and transform our industry.
IFC is proud to support Mandas mission to unlock shipping cost savings and market efficiencies for the growing SMB sector in Brazil, said Stevon D. Darling, Investment Officer for IFCs VC investments in Latin America. Supporting online and mobile technology-enabled private sector enterprises is part of IFCs inclusive strategy of providing individuals with access to better services and solutions, ranging from retail to financial services, education, healthcare, and employment, he added.
IFCs Venture Capital team focuses on technology-driven innovation; we have invested more than US$80 million globally in the early stage e-logistics sector over the past two years. In Brazil alone, IFC invested almost US$30 million in venture-backed companies in the last three years.
IFC has been investing in Brazils private sector since 1957 to address the countrys most critical development challenges, including those of the urbanization, social inclusion, competitiveness and productivity, and management of natural resources.
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