Startup roundup: Rapiddo-99Motos merger, funding

Tuesday, March 22, 2016

Brazilian multinational apps company Movile is merging its delivery service Rapiddo with the startup 99Motos, the company said in a statement.

Rapiddo offers the shipping of documents and products via different means of transport, while 99Motos focuses on delivery via motorcycle. The amount involved in the operation was not disclosed.

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With the merger, combined services are seen exceeding 150,000 deliveries per month, including operations in Brazil and Colombia, a number set to triple by the end of the year.


Brazilian education platform received a new round of funding worth 23mn reais (about US$6mn) spearheaded by US-based educational company Chegg, said.

Other investors included Bozano Investimentos, Redpoint and Valor Capital.

The investment was the first by Chegg in Latin America and the third – and largest – funding received by, bringing the startup's total to some 28mn reais. plans to use the resources to expand the product catalog and make improvements in the user experience, both on the website and on the app. The company reports 50mn visits per year, with 5mn users out of Brazil.