Prosus invests $194 mln in Latin American tech holding Movile

1 minute read

SAO PAULO, Aug 2 (Reuters) - Latin American startup holding Movile has received an 1 billion real ($194.2 million) investment from Prosus (PRX.AS), a major shareholder and global consumer internet group, the company said in a statement on Monday.

Prosus in a spin-off of South African e-commerce group Naspers (NPNJn.J), listed in Amsterdam two years ago. The new investment will fund expansion in Movile’s current companies such as Brazilian delivery app iFood, fintechs MovilePay and Zoop and Mensajeros Urbanos, a Colombia-based logistics company that is also expanding in Mexico.

Movile said in a statement its revenue has grown 80% a year over the last three years, without disclosing the exact number.

($1 = 5.1493 reais)

Reporting by Tatiana Bautzer, editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters