Shoes4you, a company then sells shoes through a monthly subscription model, has received a round of Series A financing, led by Redpoint Ventures and with Accel Partners Flybridge Capital Partners, Romero Rodrigues (CEO and co-founder of BuscaPé), IG Expansion, and Fabrice Grinda (CEO and founder of OLX) participating. As part of the round, Redpoint partner Jeff Brody will join the Board of Directors. The company declined to disclose the amount of funding raised.
Similar to the U.S.’s Shoedazzle, Shoes4You (which launches this month) offers collections of designer shoes to its Brazilian clientele. Users visit the site, create a customized profile of their tastes and styles and Shoes4You will send them a monthly shipment of shoes that match your customized style profile. Founded by Olivier Grinda, Shoes4You, the company says it plans to launch 12 collections per year and hundreds of sub-collections throughout the year.
Not only does the startup add a new e-commerce site for the growing internet market in Brazil but Shoes4You also brings the fast-growing monthly subscription model to the country. The model has seen success in the U.S. with startups like BirchBox (Accel is also an investor), Foodzie, Blissmobox, BeachMint and Babbaco all gaining traction.
Redpoint, in particular, has been bullish on investing in Brazilian markets. The venture fund has made three investments in Brazil including Shoes4You, and an investment in Brazil’s popular travel site Viajanet. Brody explains the reasoning behind investing in Shoes4You, “The demand for shoes, apparel and other fashion accessories on the Internet is exploding in Brazil. The opportunity to partner with such an experienced and motivated team to introduce the subscription e-commerce model to Brazil is truly exciting.”
Accel partner Kevin Efrusy adds “Brazil has rapidly become one of the most important markets for virtually all of our internet companies, and Olivier is someone we are excited to build a company with.”
For more on Redpoint read my colleague Sarah Lacy’s recent piece: Redpoint Ventures: Making Money the Old Fashioned Way