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IFC Invests US$2.5m in Brazil’s Mandae Technologies

18 January 2018

Brazilian e-logistics software company Mandae Technologies just received a US$2.5m investment from the IFC. New and existing investors are expected to commit additional equity to this new investment round. 

(IFC) Mandae Technologies (“Mandae” or the “Company”) is an e-logistics software company that helps small-and medium-sized e-commerce companies obtain more affordable and efficient shipping services. The Company, headquartered in Sao Paulo, Brazil, was founded in 2014 by entrepreneurs Marcelo Fujimoto and Karim Hardane. The proposed IFC investment (“Project”) consists of up to US$2.5 million in equity for a minority stake to support Mandae’s expansion to other cities across Brazil.