SoftBank-backed receives USD 200 mln funding

Monday 15 November 2021 11:23 CET | News

Brazil-based has received the unicorn status in the Latin American ecosystem after closing a USD 200 million round led by SoftBank and Tencent, according to LABS.

The group brings together three different solutions for the transport and logistics market: FreteBras, a freight platform, a fintech that is focused on payment and credit transactions, FretePago, and CargoX, a company that offers digitalisation to truck drivers and carriers.

The company raised more than USD 390 million in investments from organisations such as SoftBank Latin America Fund, Tencent, Valor Capital, LightRock, BTG Pactual, Goldman Sachs, Blackstone, Farallon Capital, and Inter-American Development Bank (BID Invest). BofA Securities acted as an advisor in the context of the investment round.

With the capital, aims to invest in product development and technology to improve the match between cargo and trucks, increase safety, reduce paperwork, and make the ecosystem more sustainable.

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Keywords: trade finance, investment
Categories: Banking & Fintech
Countries: Brazil
This article is part of category

Banking & Fintech

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