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SoftBank, General Atlantic invest $107 mln in Brazil's Acesso Digital

Credit: REUTERS/Issei Kato

U.S. private equity firm General Atlantic LLC and Japan's SoftBank Group Corp are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday.

SAO PAULO, Sept 21 (Reuters) - U.S. private equity firm General Atlantic LLC and Japan's SoftBank Group Corp 9984.T are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday.

Both General Atlantic and SoftBank will hold a minority stake in Acesso Digital after the investment.

Founded in 2007, Acesso Digital announced its first funding round in January, when it raised 40 million reais with Igah Venture, formerly e.Bricks Ventures.

Acesso Digital founder and CEO Diego Martins said in an interview that demand for the companies' services has doubled since the beginning of the pandemic, as use of contactless identification has surged in an attempt to contain the spread of the novel coronavirus.

Martins said the company will use the proceeds of the funding round to expand the business, including via acquisitions.

($1 = 5.4079 reais)

(Reporting by Aluisio Alves, writing by Carolina Mandl; Editing by Dan Grebler)

((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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