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The Brazilian mobile services company Movile received a contribution of 124 million US dollars, the largest investment ever made in the company created eight years ago and whose main business is l & # 39; 39, iFood food delivery application.
The tour, primary and secondary, was conducted by the South African investment group Naspers and the Brazilian fund Innova Capital, which is among the investors the financier Jorge Paulo Lemann.
Resources will be channeled through iFood as well as through Sympla's ticketing and Zoop's financial transaction business, said Movile General Manager Fabricio Bloisi. The company has already raised $ 375 million in the last eight years, including about $ 270 million in the last 12 months.
Bloisi does not disclose billing numbers for Movile, but quotes ambitious plans for the company, which aims to have a market value of about $ 10 billion over the next few years. He says he's been inspired by Chinese groups such as Meituan Dianping, who plans to raise $ 4 billion in anticipation of the IPO for October.
"We are confident like never before in Brazil, despite recent uncertainties, and seizing $ 124 million is an answer to that … The internet market in our size allows the industry to grow a lot, but it's a market today, "Bloisi said when asked if uncertainties about the October elections and created by the truckers strike had disrupted the cycle of ## 147 ## # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # Investment
"Our long-term perspective is extremely positive … There is a transformative trend driven by the mobile Internet that will transfer tens of billions of value to new business.If we n & # 39; 39, invest not now, we will lose room for others of Brazil), "said the president of Movile.
He did not mention it, but the Chinese interest for the technology companies in Brazil have already manifested themselves more This year, when the 99 urban transport application was bought out by Didi Chuxing.
"We do not want to be a $ 1 billion company, we want to be a $ 10 billion company, we will increase our resources so we can invest more in growth," Bloisi said. "Our market could be 10 times bigger, there is room for Brazil to have five companies of 10 billion, we think like Chinese".
As part of this "Chinese thinking," the executive said that Movile wants to expand the logistics network of iFood and strengthen the application with the payment services provided by Zoop, which has received 18 million US dollars. Movile in mid-March and should account for 90% of transactions to be made in iFood in the coming months.
Bloisi said that part of the proceeds from the new $ 124 million contribution will serve to increase the number of bikers who serve iFood six times compared to the current 5,000 in the short term. Today, the application offers food delivery in 398 cities of Brazil and according to Bloisi, it is still possible to increase this number. "The iFood will still grow 100% a year for a few years," said the executive. He added that in March, the number of food orders in the application had risen to 8.2 million versus 24,000 when Movile invested in the business four years ago.
The logic of Movile is to encourage the business ecosystem system, just as Chinese groups and Latin American companies such as the free market, where the activities of the company are the same. a company encourage other companies within the same group. According to Bloisi, this also helps reduce costs and make investments more efficient. "Zoop, entering our ecosystem, has increased transactions made 10 times in the last quarter." The growth of the motorcycle network will also help in the delivery of tickets sold by Sympla, said the executive.
However, about the Colombian grocery delivery application, Mercadoni, targeted by Movile last December, Bloisi made a mystery about the date on which a possible landing could take place in Brazil. The target segment of the application receives investment from large traditional retail groups in the country, which include the GPA. "We are now focusing on iFood, tickets and Zoop," said Movile's president.
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