Petlove which this month celebrates 21 years as the largest online pet retail brand in Brazil, received a significant strategic investment from the Latin America fund of L Catterton, the largest and most global consumer-focused private equity firm.
With extensive experience investing in the pet and e-commerce categories across the world, L Catterton will partner with the Company's Founder and Chief Executive Officer, Marcio Waldman, and fellow investors, SoftBank, Tarpon, and Monashees to accelerate Petlove's growth and expansion and help drive the Company's strategic initiatives.
This partnership will strengthen Petlove's transformation and accelerate the Company's technological advancement to drive offline to online consumption across Brazil. To further broaden its offerings to pet owners and to enable independent veterinarians and pet shop owners to transition to digital, Petlove has fast-tracked its partnership with Vet Smart, a digital content provider and services platform targeting Brazilian veterinarians.
"In a time when people are spending more time online, Petlove has achieved significant momentum in new subscriptions and new customers, and this announcement marks an important step in the Company's growth trajectory," said Mr. Waldman. "Now more than ever, customers are relying on e-commerce platforms for the products they need to feed, care for, and entertain their pets and Petlove is well positioned to continue to be a leader in the space. As we continue our expansion with the support of L Catterton and our other investors, we are focused on offering unique, value-added and increasingly omni-channel experiences for all our customers."