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Softbank Invests US$250m Series D in Brazilian Apartment Rental Platform QuintoAndar

10 September 2019

Brazilian proptech QuintoAndar reached unicorn status with a US$250m Series D investment from SoftBank, with participation from Dragoneer Investment Group, and follow-on from KaszeK Ventures and General Atlantic. General Atlantic led the R$250m Series C in 2018. Previous investors include QED Investors and Ruane Cunniff.  Read LAVCA’s interview with Co-Founder & CTO Andre Penha.

(TechCrunch) QuintoAndar,  the Brazilian real estate technology developer, has secured a massive $250 million Series D led by SoftBank,  as the Japanese conglomerate continues to deploy its $5 billion commitment to the Latin American region. The round is the latest sign that startups in Latin America can get money if they’re developing technologies in specific areas that are massive painpoints for the geography’s nascent middle class.

QuintoAndar invented a marketplace that lets users search, book, rent and advertise rental properties in Brazil. The site manages listings and visits, transaction processing between tenants and landlords, and houses the digital contracts that bind these agreements together. QuintoAndar also developed a credit analysis system that negates the need for co-signers, deposits and rental insurance – barriers that have historically blocked deal flow in this industry.

Read more at TechCrunch.