Japan’s Softbank and Riverwood Capital bought a minority stake in 99 (formerly 99 Taxis), a Brazilian rideshare company, for US$100m. Investors in 99 include Didi Chuxing, Riverwood Capital, monashees+, Qualcomm Ventures, Tiger Global and others.

(New York Times) RIO DE JANEIRO — A Latin American competitor to Uber — 99 — has raised US$100m from SoftBank of Japan to fuel growth, the Brazilian start¬up’s chief executive says.

SoftBank will become a minority shareholder in the privately held 99, as the ride¬hailing service Didi Chuxing of China did when it backed the start¬up in January. SoftBank is also a major investor in Didi Chuxing.

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