#Latinamerica
Mexico’s Kavak.com Raises $700 Million Series E Funding
Kavak’s series E boosts valuation to $8,7 billion
Mexico’s Kavak.com $700 million Series E funding sets the company’s valuation to $8.7 Bi.
Mexico’s Kavak.com $700 million Series E funding sets the company’s valuation to $8,7 billion.
The round was led by U.S. venture capital firm General Catalyst. SoftBank Group International, billionaire Peter Thiel’s Founders Fund, Singapore-based gaming, and e-commerce company Sea Ltd, Tiger Global Management and Spruce House Capital LLC, hedge fund D1 and Ribbit Capital also participated in this round.
The new funding round is the latest sign of an aggressive push into Latin America’s startup space by Japan’s SoftBank Group International which last week launched a $3 billion fund to invest in the region’s technology companies.
The Series E is the second massive investment Kavak.com receives in 2021. It raised a Series D of $485 million only five months ago.
Created nearly five years ago in Mexico, Kavak.com expanded to Argentina in 2020, before landing in Brazil this year, which it described as its largest market. The company’s #unicorn valuation is now second in #latinamerica to Brazil’s Nubank $30 billion valuation.
The Esquires
Gunderson Dettmer acted as legal counsel to Kavak.com.
Beyond the Law.News was not informed of nor could it verify the name of the law firms representing or acting on behalf of the other parties.
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