Softbank leads financing round in Brazil bus: marketplace Buser

This post was originally published on this site

By Carolina Mandl

SAO PAULO (Reuters) – Japan’s SoftBank Group Corp (T:) is leading a new financing round for Buser, a Brazilian intercity bus charter marketplace, for an undisclosed amount, according to a statement on Monday.

SoftBank’s latest move underscored the Japanese conglomerate’s move to add mobility-related business to its portfolio.

Softbank has stakes in companies such as Uber Technologies Inc (N:), General Motors Co’s (N:) Cruise self-driving car, China’s Didi Chuxing, Southeast Asia’s biggest ride-hailing firm Grab and Colombian delivery-app Rappi.

Besides SoftBank, Brazilian media conglomerate Grupo Globo and existing investors Canary, Valor Capital and Monashees joined this second funding round in Buser.

Buser’s co-founder Marcelo Abritta said in a statement that the start-up will invest around 300 million reais ($73.88 million) to expand the business, luring new partners and forging partnerships.

“We aim to reach 200 cities in 20 states over the next 12 months,” said Abritta. Buser intends to achieve 30,000 daily travelers from 3,000 people currently.

SoftBank launched a $5 billion Latin America fund in March and has invested in companies such as Rappi, housing broker QuintoAndar and lender Banco Inter SA (SA:).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.