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Softbank leads financing round in Brazil-bus-marketplace Buser

FILE PHOTO: The logo of SoftBank Group, Corp, is displayed at the SoftBank World in 2017 conference to be held in Tokyo, Japan, on July 20, 2017. (REUTERS photo/Issei Kato/File Photo

SAO PAULO (Reuters) – the japanese SoftBank Group Corp (9984.T) gives rise to a new round of funding for Buser, a Brazilian intercity bus, charter market, for an undisclosed amount, according to a statement released on Monday.

SoftBank’s latest move highlights the Japanese conglomerate, to move, to add to a mobility-related issues to its portfolio.

Softbank has stakes in companies such as Uber Technologies Inc. UBER.(N) General Motors Co. (GM.(N) the Cruise self-driving cars, China has A Chuxing, South-east Asia’s greatest ride came to firmly Grasp, and Colombia supply the app Rappi.

In addition to SoftBank, the Brazilian media conglomerate Grupo Globo, and existing investors in the Canaries, Valor Capital, and the Monashees to the second round of subsidies, in Buser.

Buser is also the co-founder of His Abritta said in a statement that the start-up and to invest about 300 million reais ($73.88 million for the expansion of the business, to attract new partners and forging new partnerships.

“We are targeting 200 cities in 20 states over the next 12 months,” he said Abritta. Buser plans to reach the 30,000 daily passengers up to 3000 people.

SoftBank started with a $5 billion to the Latin America fund will be made in March, has invested in companies such as Rappi, housing, real estate agent QuintoAndar and the creditor Bank, the Inter (SA BIDI4.SA.

Report by Carolina Mandl; Editing by Cynthia Osterman

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