Movile, a leading investor and a reputable growth accelerator for tech startups, has completed a new funding round, raising BRL 1 billion (US$200 million) from Prosus, one of its foremost investors.
Since the firm launched in 1998, this latest funding raised marks Movile’s largest primary investment in a single funding round.
Prosus is a global key player in the consumer internet industry. It is also known as a top investor in tech startups across the globe. The firm has been a backer of Movile since 2008, ten years after the firm launched, and holds a majority of the firm’s stock.
Movile said it will use the new funds to expand the capital base of existing firms in its portfolio, including foodtech firm iFood, fintech firms MovilePay and Zoop, and logistic firm Mensajeros Urbanos.
Movile, using the funds, will also seek out new and impressive tech startups in Brazil and the region at large, to invest in and add to its portfolio.
“Seeing the success of companies like iFood in Latin America has empowered so many new, innovative founders to rise and join the burgeoning tech ecosystem in the region,” said Movile CEO Patrick Hruby.
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