Brazil-based Descomplica, which affords on-line undergraduate programs and check prep for college and civil service entrance exams, raises ~$83M led by SoftBank — A bunch of traders led by Softbank Group has invested 450 million reais ($83 million) in Brazilian test-prep startup Descomplica.
Descomplica, a Brazilian education startup, has received an investment from Softbank of $83 million
In a move led by Softbank Group, a group of investors has invested 450 million real ($83 million) in Brazilian test-prep startup Descomplica, which has seen a surge in the demand for its online learning services resulting from the influenza pandemic.
It has been announced that Descomplica will use the funds to acquire new companies and produce new products, including 33 new courses by the end of next year.
“With our 100% digital business model, Descomplica’s founder and chief executive Marco Fisbhen intends to become the biggest university in Brazil, with a target of reaching one million students within a short period of time.
According to quarterly earnings reports released by Cogna Educaço SA, the country’s largest education group had just over 820,000 students registered in its Kroton higher education division at the end of September.
Founded in 2011 with a focus on preparing students for standardized tests to gain admission to university and civil service jobs, Descomplica launched undergraduate courses in the fall of last year. Despite the pandemic-related lockdowns and the company’s boost in popularity following the pandemic, the company boasts five million monthly users across test-prep and higher education.
There are a number of investors in the round, including Invus Group, the Chan Zuckerberg Initiative, as well as U2 guitarist The Edge, in addition to Softbank.