November 27, 2018 / 12:46 PM / in 14 days

General Atlantic leads $64 million investment in rental website QuintoAndar

SAO PAULO (Reuters) - Private equity firm General Atlantic LLC has led a 250 million reais ($64.18 million) investment and acquired an undisclosed stake in the Brazilian residential rental website QuintoAndar, both companies said in a statement on Tuesday.

Founded in 2013, startup QuintoAndar will use the proceeds to expand its network to new Southern Brazilian cities and to boost its existing operations, according to the statement.

This third investment round includes companies such as QED Investors, Qualcomm Ventures, Kaszek Ventures and Ruane, Cunniff & Goldfarb, besides General Atlantic, which are all already investors in QuintoAndar.

In previous investment rounds, QuintoAndar raised a total of 70 million reais.

Reporting by Alberto Alerigi; Writing by Carolina Mandl; Editing by Bernadette Baum

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