SoftBank mints QuintoAndar a new unicorn in Latin American real estate tech
QuintoAndar, the Brazilian real estate technology developer, has secured a massive $250 million Series D led by SoftBank, as the Japanese conglomerate continues to deploy its $5 billion commitment to the Latin American region. The round is the latest sign that startups in Latin America can get money if they’re developing technologies in specific areas that are massive pain points for the geography’s nascent middle class.
QuintoAndar invented a marketplace that lets users search, book, rent and advertise rental properties in Brazil. The site manages listings and visits, as well as transaction processing between tenants and landlords, and houses the digital contracts that bind these agreements. QuintoAndar also developed a credit analysis system that negates the need for co-signers, deposits and rental insurance — barriers that have historically blocked deal flow in this industry.
Co-founder and CEO Gabriel Braga says QuintoAndar has now entered unicorn territory thanks to the SoftBank-led round. Dragoneer also participated, as well as return investors General Atlantic and Kaszek (which recently announced a fresh $600 million fund of its own).
QuintoAndar, which translates from Portuguese to English as “fifth floor,” is an example of a Brazilian startup solving Brazilian problems. Those seeking long-term
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