Brazilian ride-hailing app 99 raises $100 million from SoftBank

May 24, 2017 SAO PAULO (Reuters) – Japan’s SoftBank Group Corp agreed to invest $100 million in Brazilian ride-hailing app 99, the startup said on Wednesday, capping off a fund-raising round totaling more than $200 million. Press representatives for 99 declined to specify how big a stake SoftBank’s investment entailed. The transaction is subject to approval by Brazil’s Cade antitrust regulator. In January, Didi Chuxing, China’s largest ride-hailing company, spearheaded an initial investment of more than $100 million in the Brazilian firm. The capital injection underscores strong investor demand for…

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