Investment

Softbank creates another Brazilian unicorn: QuintoAndar

LatAm List – Japanese investor Softbank has led yet another unicorn-producing round in Brazil, this time in real estate rental startup, QuintoAndar. We recently predicted that QuintoAndar would become a unicorn within the next 12 months; Softbank made this prediction a reality by leading QuintoAndar’s $250M Series D round alongside new investor Dragoneer and previous investors General Atlantic and Kaszek Ventures.

While QuintoAndar’s founder, Gabriel Braga, did not disclose the exact valuation, he admitted this round took his company into “unicorn status,” according to Crunchbase News. QuintoAndar is an end-to-end service for long-term rentals, processing over 4,500 contracts per month.

From Crunchbase:

“QuintoAndar makes it easier for people to quickly find homes and for landlords to better manage their properties,” said Marcelo Claure, CEO of SoftBank Group International, in a prepared statement. “The company is at the center of a global transformation of the real estate industry.”

This round comes just 9 months after QuintoAndar raised a $70M Series C. Over the past year, the company has seen 5x growth on its number of properties and 3x revenue growth. They have also tripled their employees from 300 to 1000, remaining headquartered in São Paulo.

The founders created the platform after struggling to find an apartment in São Paulo after their MBAs at Stanford. They have since expanded to 25 cities and are now partnering with brick and mortar real estate firms to expand their reach.

Read more in Crunchbase News.

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