Mobile Startup Movile Raises $53 Million

Movile announced it has secured $53 million in financing. Naspers Ventures and Innovacorp participated in the round.

Based in San Paulo, Brazil, Movile invests in content distribution platforms and online-to-offline (O2O) applications in children’s education and other mobile content, food delivery, ticketing, and cloud logistics. The company says its product reaches more than 70 million people per month, with a roster of clients that includes iFood, PlayKids, MapLink, Rapiddo, and Sympla, among others.

According to the company, the $53 million will be used for Movile’s Rappido business line, as well as for its expansion into the food delivery, ticketing, and gaming sectors.