Foley Represents Brazilian Startup Clubbi in $4.5M Seed Funding

07 December 2021 News

Foley & Lardner LLP represented Clubbi, a Brazilian business-to-business resource for small food retailers, in its $4.5 million seed funding. Valor Capital Group co-led the round with ONEVC and was joined by Better Tomorrow Ventures, Latitud, and Canary.

Clubbi started in 2020 as an online commerce resource for neighborhood markets and grocery stores, offering competitive pricing and better customer service. The company offers 24-hour delivery, no minimum order quantity, and flexible payment terms. It is currently working with 1,000 grocery stores in Rio de Janeiro, up from three at launch, with plans to grow to over 3,000 by mid-2022. The company is also growing 40 percent month over month, gross merchandise value-wise.

The funding will be used to accelerate growth, technology development, expansion into other Brazilian cities, and develop additional supplier partnerships. The company also plans to hire additional staff to bring its now 40-person employee base to 70 people by mid-2022.

Partner André Thiollier led the Foley team with assistance from Associate Ashley Lee.