Brazil-based rental e-commerce platform operator QuintoAndar has secured $300m in series E funding from investors including internet and telecommunications group SoftBank’s Innovation Fund, TechCrunch reported today.
Venture capital firm Ribbit Capital led the round, which included Alta Park, Dragoneer Investment Group, Kaszek Ventures, LTS, Maverik, private investor Kevin Efrusy and an unnamed US-based asset management firm with more than $2 trillion under management.
Founded in 2012, QuintoAndar has built an online real estate marketplace featuring over 100,000 properties for rent across some 40 Brazilian cities. Having added property brokerage services in 2020, it intends to now expand its offering into mortgage, title, insurance and escrow transactions.
The deal took the company’s total funding to $635m and valued it at $4bn. The funding will be used to increase its presence in Brazil and additional markets in Latin America including Mexico.
SoftBank had led a $250m series D round for QuintoAndar in 2019, investing alongside Dragoneer, General Atlantic and Kaszek Ventures at a $1bn post-money valuation.
Mobile chipmaker Qualcomm’s corporate venturing arm, Qualcomm Ventures, took part in a $64m round for the company in 2018. It was led by General Atlantic and also featured Kaszek, QED Investors and Ruane, Cunniff & Goldfarb.
Qualcomm Ventures had already participated in a $12.6m round two years before that was led by Acacia Partners and backed by returning investor Kaszek.
