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SoftBank Enters Latin America's E-Commerce Industry With New Bet

  • Japanese giant leads funding round in Brazil’s MadeiraMadeira
  • Home goods marketplace raises $110 million in new financing
SoftBank's Blockbuster IPO Said to Hit Retail Sales Target
Photographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. is leading a $110 million investment in Brazilian e-commerce company MadeiraMadeira, tapping a relatively unexplored sector in its multibillion-dollar deal binge in Latin America.

The money will be used to develop technology, boost logistics and improve the customer experience, MadeiraMadeira Chief Executive Officer Daniel Scandian said. Other investors in the round include Light Street Capital and Flybridge Capital Partners, which was an early backer of the startup. The Curitiba-based firm previously raised $38.8 million.