Brazilian Online Home Goods Seller MadeiraMadeira Raises $190M Led By SoftBank, Dynamo

Brazilian Online Home Goods Seller MadeiraMadeira Raises 0M Led By SoftBank, Dynamo

Brazilian online home goods platform MadeiraMadeira has raised $190 million in a new funding round that valued
it above $1 billion, the company said on Thursday.

 Existing investor Japan’s SoftBank Group Corp and Dynamo led this fifth funding round, which also included
Flybridge, Velt Partners, Brasil Capital, Lakewood Capital and Monashees.

 The company will use the proceeds to expand the business as sales outpaced expectations last year after the
coronavirus pandemic boosted online shopping, CEO and co-founder Daniel Scandian said in an interview with
Reuters.

 Still, MadeiraMadeira also plans to open additional brick-and-mortar stores, increasing its physical footprint.
Currently, the company has nine stores.

 Scandian said MadeiraMadeira would launch new own-brand products in its stores to add to the 400 currently
available, while also eyeing international expansion.

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