The Dafiti Group, a Rocket Internet owned online fashion retailer in Latin America raises USD 70mn

dafitiThe Dafiti Group, a Rocket Internet backed Zappos model online retailer has recently announced a new round of funding worth USD 70mn from Ontario Teacher’s Pension Plan (OTPP), a Canadian Investment fund that has previously participated in USD 400mn round in

Earlier this year, Rocket Internet has also announced injection of USD 500mn from two of its regular investors Kinnevik and Access.

The Sao Paulo based retailer, Dafiti which started 2 years back has now raised the total of USD 225 mn under its belt. The set of investors which have shown faith in the Latin America’s growing online retail model through Dafiti include JP Morgan, Quadrant Capital Advisors and even Mexico’s León Group, a consortium represented by the owners of the country’s largest shoe brands.

According to e-bit, the specialized consultancy, Brazil’s e-commerce is expected to grow 25% in 2013, as it added 10 million new e-consumers in 2012. By 2015, 39% of internet users, or 31.6 million people, will have made at least one purchase online (Source: eMarketer, January 2012).

The footwear and fashion online retailer Dafiti is currently operational in 5 countries including Brazil, Argentina, Chile, Colombia and Mexico with more than 2,000 brands and 125,000 products with major part of it for Brazil as per the company disclosure.

This is interesting to see how Rocket is able to gain trust of major funds in channeling the money in emerging markets such as SEA, India, Latin America, Russia with its build, scale and replicate model, and the DNA of fundraising.

Also recently, its Online food ordering business HelloFood, an affiliate of Global venture Foodpanda did its third acquisition in a row within 4 weeks, by taking over the competitor Peixe Urbano Delivery. Previously it acquired MegaMenu and Janamesa too.

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