# Favo Tecnologia LTDA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/favo-tecnologia-ltda

- Industry: Internet
- Headquarters: Sao Paulo, Brazil
- Website: www.mercadofavo.com
- Total disclosed funding: $33M
- Latest round: Series A (Oct 6, 2021)
- Investors on record: 7

## About

Based in São Paulo, Brazil, and founded by Alejandro Ponce in 2019, Favo Tecnologia LTDA doing business as Favo operates as a developer of an online marketplace that connects sellers and consumers. In October 2021, the firm raised USD 26.5 million in series A funding led by investors Tiger Global Management, with participation from other investors MSA Capital, Positive Ventures Elevar Equity, Global Founders Capital, FJ Labs, and H2O Venture Partners. The firm as of October 2021, is led by its COO, Simmon Nam, and CTO, Renato Todorov.

The company through its online marketplace provides consumers access to locally sourced products and allows sellers or local producers to sell their products directly to consumers, cutting out the middleman and ensuring fair prices for both parties. Mercado Favo, through its web and mobile e-com (e-commerce) application, offers a wide range of products, including fresh produce, meat, dairy, bakery items, and artisanal crafts.

## Funding rounds

- Series A, Oct 6, 2021, $27M — Elevar Equity, Tiger Global Management, MSA Capital, H2O Venture Partners, Global Founders Capital, FJ Labs, Positive Ventures
- Seed, Jan 20, 2021, $6.4M — Elevar Equity, Global Founders Capital

## Investors

- Elevar Equity (https://capitalatlas.ai/funds/elevar-equity) — Seed, Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series A
- MSA Capital (https://capitalatlas.ai/funds/msa-capital) — Series A
- H2O Venture Partners (https://capitalatlas.ai/funds/h2o-venture-partners) — Series A
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- Positive Ventures (https://capitalatlas.ai/funds/positive-ventures) — Series A