Business

The Brazilian startup Volanty gets an investment led by SoftBank

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  • Volanty has received an investment round of $17.6 million (70 million reais) led by venture capital funds’s SoftBank and Kaszek;
  • The Brazilian startup was created in 2017 and connect buyers and sellers of used vehicles via an online platform.

The startup Volanty, a Brazilian digital used car portal, has received an investment round of $ 17.6 million (70 million reais) led by venture capital funds’s SoftBank and Kaszek.

According to Reuters, the investment, which also involved Monashees and Canary funds, the investment shows that “the funds are also betting on a fast-growing market for second-hand cars that has a turnover of $ 100 billion (400 billion reais) a year.”

Created in 2017 Volanty, connects buyers and sellers of used vehicles via an online platform, while it also has physical dealerships where vehicles are appraised, priced, photographed, documented, and traded.

Also according to Reuters, the digital model for car sales has been successfully used in China, the United States, and Europe.