Movile Secures $82M Investment in Funding Led By Naspers

by StartupWorld Staff         

Naspers is a South African-based international investor and media concoction, has teamed with the private equity company, Innova Capital to lead another $82 million worth investment into Movile, only with the motive to primarily to increase Movile’s stake in iFood- a Latin American delivery vendor/business. Movile has a business strategy is that which include logistics, delivery, ticketing, online gaming, and education. However, it is the food business that has garnered the attention of most of the mighty investors.

Movile Secures $82M

Movile's chief executive Fabricio Bloisi said in a statement that, “The food delivery market is expanding rapidly across the globe and iFood is at the forefront of innovation and growth as the leading food delivery business in Latin America. With that in mind, we will continue to invest in the company to scale iFood’s technology platform and accelerate product development so they can fulfill more orders and also provide an even better experience for restaurants and consumers.”

For Bloisi, food delivery has always acted as a gateway to various other kinds of commercial transactions in the “online to offline” circuit, which now seems crucial to the success in budding markets that lack powerful logistics and ordered delivery systems.

Talking about the issue of Innova's support to Movile's, Veronica Allende Serra, the Founding Partner of Innova Capital Fund, remarked in a statement that, “At Innova we are very excited to continue to support Movile’s talented team in its growth, helping accelerate the iFood and tickets platforms and investing in new businesses that can leverage the active user base that Movile has built. We believe Movile has many opportunities to continue to grow exponentially, including in logistics and financial services, among others”. 

It is noteworthy that in association with Movile, Naspers that is aiming for higher gains through even higher risks has emerged as an elephant in the room from its humble roots as a mere media company of South Africa around the year 1915, to one of the largest technology- startup investors in the world. A major chunk of these investments has been in China and Russia.


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