Japan’s SoftBank leads new funding in Brazil’s housing broker QuintoAndar

REUTERS/Issei Kato

Brazilian online housing broker QuintoAndar has raised $250 million in a new funding round led by Japan’s SoftBank Group International, the company said on Tuesday.

The broker has been valued at more than $1 billion in this funding round, a source with knowledge of the matter said.

Besides SoftBank, which launched a $5 billion Latin America fund in March, San Francisco-based Dragoneer Investment Group is investing in the company. Existing partners General Atlantic LLC and Kaszek have also joined this fourth-funding round.

QuintoAndar said in a statement that the proceeds will be used to expand geographically and accelerate growth through partnerships with real estate agencies.

Chief Executive Officer and founder Gabriel Braga told Reuters in an interview that QuintoAndar is considering expanding abroad, but declined to name the countries it might be eyeing.

Founded in 2013, QuintoAndar is a rental platform that does not require tenants to provide a guarantor, a standard requirement in Brazil even for renters with good credit histories.

QuintoAndar has been securing roughly 4,500 new rental contracts per month, five times higher than in 2018.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.