QuintoAndar, the Brazilian proptech, announced an additional $120M for its $300M Series E. Greenoaks Capital and Tencent co-led the extension round, with participation from existing investors.
The new funding comes just three months after the startup’s Series E, which was led by Ribbit Capital.
QuintoAndar describes itself as an “end-to-end solution for long-term rentals”, offering a complete real estate service including mortgages, insurance, and more. The platform connects home buyers to sellers and landlords, facilitating the process of finding a home in districts across Brazil.
In the past year, QuintoAndar has expanded into 14 new cities in Brazil and acquired Atta Franchising, a real estate mortgage broker. The company now manages more than 120,000 rentals across 40 cities in the country.
With the new funding, QuintoAndar is now valued at $5.1B. The platform became a unicorn back in 2019, and is now looking to make new acquisitions and continue to accelerate growth.
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