Movile Receives $191.9 Million Investment From Majority Shareholder Prosus
August 02 2021 - 8:06AM
Dow Jones News
By Joe Hoppe
Latin-American technology investor Movile said Monday that its
majority shareholder Prosus NV has invested 1 billion Brazilian
reals ($191.9 million) into the company, the largest primary
investment in a single round since Movile's founding in 1998.
The Sao Paulo, Brazil-based company said the new funds will go
towards improving its existing portfolio of companies--including
food technology company iFood and fintech companies MovilePay and
Zoop--and investing in new technology startups, both in Brazil and
across Latin America. Movile said it will particularly focus
investment and expansion in the logistics, fintech and gaming
markets.
At 1228 GMT, shares in Amsterdam-listed internet conglomerate
Prosus were up EUR1.10, or 1.5%, at EUR75.95.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
August 02, 2021 08:57 ET (12:57 GMT)
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