Breaking News | Loggi needs work contracts with US$7.2M

postado em: News | 0

News Summary The Brazilian court ordered a Brazilian delivery app Loggi to formalize its work relationships with all the motorcycle drivers working for Loggi in Brazil. in the country, according to a release on 6 December. The court has also required Loggi to pay US$7.2M in compensation.   Unfair competition by absence of work relationships? Approximately 15,000 drivers work for Loggi in the country. Loggi became a unicorn with a market value of US$1B in June, after raising US$150M investment by SoftBank and Microsoft etc.. In the sentence, Labor judge Lvia Lacerda Menendez stated that Loggi promotes unfair competition since the absence of employment relationship exemptions the company from paying taxes and … Conteúdo

Breaking News | Softbank Led US$150M Investment in Argentina

postado em: News | 0

News summary Softbank accelerates in Latam. Ualá, an Argentine startup of personal finance management app, has raised a US$150M for Series-C led by SoftBank’s Latin America-focused Innovation Fund and Tencent. (Reference: Tech Crunch’s article on 25 Nov. 2019)   Who is Ualá? Ualá is the startup that provides a mobile banking app and lending platform with services similar to those of Revolut, Monzo and Nubank. However Ualá has no orientation to actually become a bank itself. Founder and CEO Pierpaolo Barbieri, a Buenos Aires native and Harvard University graduate, says his ambition was to create a platform that would bring all financial services into one app linked to one card. As it exists … Conteúdo

Breaking News: Softbank Led US$140M Investment in Brazilian Startup

postado em: Brazil Venture Capital, News | 0

News Summary Softbank led a US$140M investment in VTEX, Brazilian startup, which provides an e-commerce platform (NEOFEED’s article on November 22, 2019). This is the 10th investment in Brazilian startups for Softbank, which announced the establishment of a US$5B Latin American fund this May.   Softbank, Gávea Investimentos (represented by Armínio Fraga, former central bank president) and Constellation Asset Management led this investment, which will be utilized mainly in overseas expansion and R&D.   Outline of VTEX Sales in 2018 were US$179M with a CAGR of 40% over the past five years. This year’s sales forecast is US$250M. VTEX has 15 overseas offices (US, UK, Italy, Spain, Romania, and Latin … Conteúdo