Nuvemshop, a Latin American e-commerce startup similar to Shopify, is raising a new round of funding led by Tiger Global Management that could value the company at $2 billion including the new capital, according to a person familiar with the matter.
The Series E round would add to the $90 million the São Paulo–based Nuvemshop raised in March, when the 10-year-old company received backing from Accel. The new round reflects growing interest among U.S. investors in e-commerce startups based in Latin America, where a pandemic surge in online shopping has accelerated the growth of companies providing services to internet shoppers and merchants, similar to what has happened in the U.S.
