The funding will help Facily accelerate its national growth plans. Here are the top-line bullets you need to know.
Facily, a social commerce platform, has raised $250M in a Series D round. The round drew participation from Tru Arrow Partners, Delivery Hero, and DX Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Brazil-based Facily aims to provide a more inclusive e-commerce experience to low-income consumers in Brazil by connecting them with more affordable products and delivery, providing group buying deals, and offering a variety of payment methods. Its platform hosts a wide range of products, including grocery items and general electronics.
- Between January and September 2021, the company’s sales volume grew 43x. Additionally, it claims to process 400K+ orders per day and facilitate 7M+ deliveries per month, on average.
- Its application has been downloaded 17.5M times, making it one of the top 3 most downloaded applications in Brazil.
- In 2021, the company has raised 4 funding rounds, and it plans to raise more in the future as it approaches unicorn status.
Source: Facily
WHY DOES THE MARKET MATTER?
- The global social commerce market is projected to reach a value of $3.4B by 2028, growing at a CAGR of 28.4%, according to Grand View Research.
- The increasing usage of social media platforms by consumers, particularly amid the Covid-19 pandemic, has convinced sellers to market their products through such mediums.
- The convenience of online shopping is a key factor driving market growth — consumers are able to easily browse and select items from a suite of products, access several payment options, and have goods delivered to their doorsteps.
