After investing in other disruptive companies in Brazil, such as QuintoAndar, Gympass, Banco Inter, and Creditas, Softbank has officially chosen a new target: the Brazilian startup Buser. Popular known in the market as the Uber of buses, the company aims to reshape the bus system in Brazil by connecting charter companies directly to passengers, to travel among Brazilian cities with prices up to 60% cheaper.
Buser’s model business still faces inquiries in the Brazilian highest court, but international investors don’t look worried about it, hence that even the total amount raised was not disclosed, the company revealed that BRL 300 million of the investment will be focused on marketing, technology, and growth in the country, according to the Brazilian media outlet Estadão.
The road transport market in Brazil is worth billion but remains expensive and ineffective. For us, Buser could take a leadership position in this segment.Paulo Passoni, Softbank’s investment partner, for Estadão
Other investment funds such as Canary, Monashees, Valor Capital, and the communication Brazilian giant Grupo Globo are also involved in this round.
After the financial injection, the startup, that now already operates in 50 Brazilian cities, wants to be present in over 200 cities and increase 5 times the employees’ number in the next few months.