Ribbit Capital led a USD300m Series E for Brazilian proptech QuintoAndar, with participation from SoftBank LatAm Innovation Fund, LTS, Maverik, Alta Park, KASZEK, Dragoneer, Kevin Efrusy (Accel) and an undisclosed US-based asset manager with USD2t in AUM, at a reported USD4b valuation. SoftBank led a USD250m Series D in 2019; General Atlantic led a BRL250m Series C in 2018.
(TechCrunch) – Fintech and proptech are two sectors that are seeing exploding growth in Latin America, as financial services and real estate are two categories in particular dire need of innovation in a region.
Brazil’s QuintoAndar, which has developed a real estate marketplace focused on rentals and sales, has seen impressive growth in recent years. Today, the São Paulo-based proptech has announced it has closed on $300 million in a Series E round of funding that values it at an impressive $4 billion.
The round is notable for a few reasons. For one, the valuation — high by any standards but especially for a LatAm company — represents an increase of four times from when QuintoAndar raised a $250 million Series D in September 2019.
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