Japan’s Softbank Group Corp reached an agreement to invest 250 million reais ($48 million) in pet products online retailer Petlove, the companies said in a statement on Tuesday.
The investment will come from Softbank’s Latin America fund, adding to previous venture capital investment from KasZek Ventures, Monashees and private equity firm Tarpon.
Founder Marcio Waldman said in a statement the investment would help accelerate Petlove’s growth amid higher demand for online services during the social isolation period mandated by Brazilian authorities.
Source: Reuters
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