PPU instructed on m-commerce investment in Colombia
Philippi Prietocarrizosa Ferrero DU & Uria advised Movile, the mobile commerce platform, on its acquisition of a 15% stake in MU Team, a Colombian start-up.
Movile is a Brazil-headquartered mobile commerce and content platform and a subsidiary of Naspers, the South Africa media and techonology conglomerate. MU Team is a Colombian start-up doing business as Mensajeros Urbanos, an app providing same-day urban courier service with real time tracking.
The transaction highlights the potential of the Colombian m-commerce space, Mensajeros Urbanos was listed as one of Colombia´s hottest apps in 2016 by the country´s Ministry of Technology and Communications (Ministerio de Tecnologías de la Información y las Comunicaciones.)
Partners Nicolás Tirado and Javier Valle led the PPU team in Bogota advising Movile.