By Joe Hoppe
Latin-American technology investor Movile said Monday that its majority shareholder Prosus NV has invested 1 billion Brazilian reals ($191.9 million) into the company, the largest primary investment in a single round since Movile's founding in 1998.
The Sao Paulo, Brazil-based company said the new funds will go towards improving its existing portfolio of companies--including food technology company iFood and fintech companies MovilePay and Zoop--and investing in new technology startups, both in Brazil and across Latin America. Movile said it will particularly focus investment and expansion in the logistics, fintech and gaming markets.
At 1228 GMT, shares in Amsterdam-listed internet conglomerate Prosus were up EUR1.10, or 1.5%, at EUR75.95.
Write to Joe Hoppe at firstname.lastname@example.org
(END) Dow Jones Newswires