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Quadrant Capital stumps up half of $65m Dafiti funding round

11 Dec 2012

New York-based Quadrant Capital Advisors has put up almost half of a $65m investment in online Brazilian fashion retailer Dafiti.

Summit Partners and Kinnevik also took part in the funding round for Dafiti, which currently operators across Brazil, Argentina, Chile, Colombia and Mexico.

The company said the equity investment would mainly be used to bolster its logistics operations and expand its brands and products.

QCA managing director Alejandro Santo Domingo said, “We have been impressed with the success Dafiti has achieved in less than two years, driven by its commitment to operational excellence and customer satisfaction.

“For these reasons and others, we believe the company is well-poised to go from strength to strength, not just in Brazil, but throughout Latin America.”

Dafiti’s previous, third round of funding was led by JP Morgan, which invested $45m, while Kinnevik led the second round.

The deal comes four months after JP Morgan and Quadrant invested in European online fashion retailer Zalando, joining existing investors Kinnevik, Rocket Internet, Holtzbrinck Ventures, Tengelmann Ventures and DST Global.

The Berlin-based e-commerce company was founded in 2008 and saw net turnover of €510m in 2011

Dafiti was founded in January last year by Malte Horeyseck, Malte Huffmann, Thibaud Lecuyer and Philipp Povel with $50m of initial funding from Rocket Internet.

The business offers more than 80,000 products and 700 Brazilian and international brands, and currently employs more than 1,200 people.

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