This $57.5m cash injection for will support growth, product development and acquistions for the e-commerce services provider.

Telecommunications and internet group Softbank led a R$310m ($57.5m) series D round for Brazil-based e-commerce services provider Olist on Monday through its $5bn SoftBank Latin America Fund.

The corporate was joined by Valor Capital, Península Participações, Velt Partners, FJ Labs and private investor Kevin Efrusy.

Founded in 2015, Olist runs an e-commerce integration service that allows smaller online merchants to gain more prominence among larger retailers. Its platform also offers cataloguing services, market intelligence, logistics and product exposure to sellers.

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