99 Group, the Brazilian technology company, has secured an extension of its Series C funding round. The company has raised an additional $70 million from investors, bringing the total amount raised in the round to $405 million.
The funding round was led by the SoftBank Latin America Fund, with participation from other investors, including monashees, Qualcomm Ventures, and Riverwood Capital. The additional funding will be used to expand the company’s services in Brazil and other Latin American countries.
99 Group provides a range of technology-based services, including ride-hailing, food delivery, and financial services. The company has seen significant growth in recent years, with its ride-hailing service now available in over 1,600 cities across Brazil.
The extension of the Series C funding round is a testament to the company’s success and its potential for further growth. The additional funding will allow 99 Group to expand its services and compete with other technology companies in the region.
In conclusion, 99 Group’s extension of its Series C funding round is a positive development for the company and the wider technology sector in Brazil and Latin America. The funding will enable the company to expand its services and compete with other players in the market. With its strong track record of growth and innovation, 99 Group is well positioned to capitalize on the opportunities presented by the region’s rapidly expanding technology sector.