SoftBank has been busy in Brazil.
The investment giant has reportedly led a $150 million investment in Brazilian shipping logistics platform Loggi at a reported valuation of over $1 billion, according to LAVCA, the Association for Private Capital Investment in Latin America, which cited Brazilian publication Exame. It’s also pumped $200 million in Brazilian fintech startup Creditas at a reported $700 million post-money valuation, LAVCA said citing a report from Brazil Journal.
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The Loggi funding also included participation from GGV Capital, Fifth Wall, Velt Partners and Microsoft.
It’s not the first time SoftBank has put money in the six-year-old Sao Paulo-based company. It also invested $100 million in Loggi as part of the startup’s $111 million Series D, which was announced last October. Loggi’s aim is to “reinvent logistics with a fast, cost-efficient and reliable network across e-commerce, wholesale food delivery and courier services.”
Sao Paulo-based Creditas operates a digital platform which offers secured consumer loans. It was formerly called BankFacil.
Earlier this year, SoftBank unveiled plans for a $5 billion SoftBank Innovation Fund, or what it described as “the largest-ever technology fund focused exclusively on the fast-growing Latin American market.” In April, we did a deep dive look at how Latin America has “arrived” among global VCs. Brazil, in particular, is leading the way in terms of dollars raised and deal volume.
Illustration: Li-Anne Dias