Vtex Announces Purchase of Xtech Commerce for R$ 14 Million and Consolidates Largest E-Commerce Solution for SMBs

 

Vtex, the leading Latin American cloud commerce multinational, announced the purchase of startup Xtech Commerce, an e-commerce platform for SMEs, for R$ 14 million. The purpose of the acquisition is to unify, together with Loja Integrada, Vtex's Small and Medium Business division into a global presence. From now on, Alfredo Soares will be the company's Co-Head Global SMB alongside his partner, Breno Nogueira.
 
"Our company serves 30% of the most valuable companies in the world, but understands that the long tail is fundamental to the virtual store ecosystem. Our main objective with the union is to create the best solution in the world for small and medium retailers and Xtech has so much the team and the culture we seek", emphasizes Mariano Gomide Faria, founder and Co-CEO of Vtex.
 
With the merger of Xtech and Loja Integrada, the SMB division of Vtex now has more than 26 thousand active stores, which together transact approximately one billion reais a year.
 
The purpose of the merger is, in addition to consolidating Vtex in the domestic market, to expand the offer of the omnichannel solution to small and medium-sized companies in Latin America and, subsequently, in the North American and European markets. Currently, Vtex already serves brands such as Walmart, Disney, Boticário, Coca-Cola and Avon, in addition to having another 2,000 stores spread across 27 countries.
 
"We are very honored to be acquired by one of the biggest global players in this segment, as it proves the quality work we have been doing together with our team over the past three years. We have gone through many difficulties, and I am proud to say that even without financial help of investors, we managed to revolutionize the SME virtual store market, and be one of the few successful companies in the technology sector that did not receive capital. Now the challenge is to unify the offer for this type of company on a global scale.", says Alfredo Soares , Co-Head Global SMB of the company and former CEO of Xtech Commerce.
 
Xtech Commerce grew 200% in 2017 and currently has more than 45 thousand stores created, which together are responsible for an annual turnover above R$ 200 million. The brand began its operations by creating 35 stores and today it has more than 160 e-commerces being opened daily by the platform. The company's goal for the next year is to maintain accelerated growth, invest in a product and start the internationalization process.