Brazil-based charter bus booking service Buser has received R$700m ($138m) in a funding round backed by internet and telecommunications group SoftBank, Reuters has reported.
The round also drew in investments from private equity firm LGT Lightrock, investment firm Valor Capital, venture capital firm Monashees and undisclosed additional VC firms.
Founded in 2016, Buser operates a low-cost, inter-city, charter bus booking service in Brazil with nearly 4 million users.
The capital injection will support an investment over the next two years through which the company plans to expand into areas such as cargo shipping, urban transportation and online marketplace platforms for traditional bus businesses.
Buser has also allocated approximately $40m of funding to the addition of new buses and $79m to introduce new destinations to its domestic bus network.
SoftBank had also led a series B round of undisclosed size for Buser in October 2019 that included media conglomerate Grupo Globo, Valor Capital, Canary and Monashees.
The company had secured an undisclosed amount of series A funding from investors including Valor Capital, Canary and Monashees the year before. It collected an unspecified amount of seed funding from Canary, Yellow Ventures and Fundação Estudar Alumni partners in 2017.