LatAm List – Japanese investor Softbank will lead a US$190M investment in Brazilian startup, Gympass, with plans to invest in two more rounds totalling up to US$500M. These rounds put Gympass’ valuation at US$1.1B, placing it among Brazil’s startup unicorns.
Gympass is a gym subscription service, much like ClassPass, that is active in 10 countries and with over 25,000 associated gyms. However, the Brazilian version focuses on corporate contracts, rather than individual payment plans.
This round is Gympass’ sixth round, many led by large international investors. Softbank has previously invested significant rounds into Brazilian startups Loggi and 99, and recently announced plans for a Latin America-focused fund.
Read more in Valor Economico.