Business Startups Venture

SoftBank Invests In Brazil’s Loggi, A New Unicorn, And Creditas

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.

Subscribe to the Crunchbase Daily

The Loggi funding also included participation from GGV Capital, Fifth Wall, Velt Partners and Microsoft.

Plot 32

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

Copy link