News | Grow, a Micro Mobility Giant in Latam, Sold to Fund

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News Summary Grow, which was born in 2019 after a merger between Brazil’s Yellow, which provides share services for bicycles and electric scooters, and Grin, Mexico, which manufactures electric scooters, announced the sale of its business to Mountain Nazca, a South American investment fund, on March 11. Nazca is also the largest shareholder in companies such as Peixe Urbano in Brazil and Grupon. According to grow’s statement, the company will continue to operate in three Brazilian cities (Curitiba, Rio de Janeiro and Sao Paulo) and Argentina, Chile, Colombia, Mexico and Peru. Roberto Álvarez Cadavieco, Vice President of Mobility at Grow, will be the global CEO of the Grow Group. Just … Conteúdo

Forum Review vol.10 | Felipe Fujiwara, Softbank

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In the forum review vol.1, we took up the whole picture of the forum and opening remarks by Brazil Venture Capital. After vol.2, we would deliver all 18 sessions in a series. This time, “Brazilian Venture Capital Outlook” by Softbank Felipe Fujiwara! Felipe Fujiwara, Softbank (Left) and Mitsuru Nakayama, Brazil Venture Capital Session Summary Speaking of Softbank, at the end of last year, the company announced its large-scale investments in Brazil and Argentina. In addition, it has had an impact on global markets such as the establishment of a South American-specific fund for US$5B, the group’s “straight financial results”, and the Wework issue. In this session, Fujiwara, vice president of … Conteúdo

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

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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

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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

Guest speakers vol.6 – Felipe Fujiwara, Softbank

postado em: Brazil Venture Capital, Forum | 0

We are privileged to invite you for the Brazil Japan Startup Forum 2019 in Sao Paulo, on 22 Nov. (Fri). With guests from Japan and Brazil, it would be a beneficial opportunity to approach noticeable startups and businesses. Please visit here to register. In this blog, we are honored to introduce our guests of the forum.   Mr. Felipe Fujiwara Vice-President at Softbank   Felipe Fujiwara   Felipe is a Vice-President at Softbank. Prior to joining SoftBank, Felipe worked at 30Knots Capital, a late stage growth investment firm focused exclusively in Latin America with a flexible mandate of investing in both private and public companies with a very collaborative approach with … Conteúdo