São Paulo, Brazil, April 6, 2020 -- Plug and Play welcomes Mimoo the newest company in joining our portfolio in Brazil. The company led by Ernesto Villela arrives with the promising idea of revolutionizing consumer loyalty and engagement strategies by the consumer goods industry.
To stores within large shopping malls, the startup offers products for free, and allows end consumers to connect with companies like Nivea and Unilever in a more objective and decisive way. Currently, about 140,000 people have redeemed an approximate value of $25 million in products through their stores, a result obtained in just months of operation. In addition, Mimoo has already - organically - reached the mark of 80,000 followers on social networks, gathering an army of people who approve and contribute to the expansion of stores.
From the investors' perspective, Mimoo stands out for offering an innovative solution for companies that face the enormous challenge of reinventing their marketing strategies, using technology to focus on performance, engagement, consumer collaboration and, mainly, the use of data for improve the user journey.
“We are very excited to support Mimoo in its journey, and truly believe that the intelligence it is building with this business model can help corporations design innovative strategies focused on increasing loyalty and brand awareness for their customers,” said Andrea Sánchez, Director at Plug and Play Brazil.
"We are very honored with the partnership between Plug and Play and Mimoo. This investment shows we are on the right path to disrupt loyalty services to CPG industry so they can directly connect to consumers in a win-win situation,” said Ernesto Villela, CEO of Mimoo.
Plug and Play launched its operation in Brazil on September 2019, with the aim to be closer to the Latin American startup ecosystem. With 40 Brazilian startups in its portfolio, the innovation platform is looking to increase that number with investments in two main areas; fintech and agtech. The scouting of those technologies will be done through the acceleration program that is kicking of next April with the support of its main partners; Cartão ELO, Sicoob, Claro, Klabin, Suzano, Ihara and Banesco, who will develop projects with the selected startups.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 25 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit https://www.plugandplaytechcenter.com/