RIO DE JANEIRO, BRAZIL - Brazilian delivery app Loggi announced a R$1.15 billion (US$205 million) funding round on Monday, March 1st, as the firm seeks to expand its distribution footprint and shorten delivery times amid an e-commerce boom in South America's top economy.
The round was led by São Paulo-based CapSur Capital, and included current investors Monashees, Softbank Group Corp , GGV, Microsoft Corp and Sunley House, Loggi said in a statement.
Loggi has grown rapidly since its 2013 founding. In 2020 alone, delivery volume grew 360% as consumers moved to remote retail channels during . . .