On June 10, 2021, Brazilian intercity bus start-up Buser announced that it has raised $138 million (700 million reais) in a Series C funding round. The proceeds from the financing, which had participation from LGT Lightrock, Softbank, Monashees, and other venture capital firms, will fund new services aimed at a tenfold expansion next year. Wilson Sonsini Goodrich & Rosati represented Buser in the transaction.

The travel app, which now serves nearly four million users, aims to modernize ground transport in Brazil, where some 300 million bus tickets were sold in 2019, according to Valor Capital, which also contributed to the round. Buser said the fresh capital would help finance 1 billion reais of investment over the next two years, including expansion into cargo shipping, urban transportation, and a marketplace for traditional bus companies. The start-up said it has earmarked 200 million reais to finance new buses for its partners and 400 million reais for opening new destinations across the country.

The Wilson Sonsini LatAm practice team that represented Buser in the transaction includes Matt Squires, Vanessa Heck, and John Delaney.

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