Softbank group along with another group of investors has invested $83 million in Brazilian test-prep startup Descomplica. The company said it would use the funds to acquire and develop new products, which include 33 new courses, by next year. Descomplica wants to create the most prominent university in Brazil with a completely online business model.
According to quarterly earnings, at the end of September, Cogna Educação SA, Brazil’s biggest education group, had 820,000 students enrolled in its Kroton higher education division.
Descomplica helps students prepare for standardized tests to enter university and civil service. The company also offers undergraduate courses and boasts 5 million monthly users.
Softbank, the Chan Zuckerberg Initiative, Invus Group, and U2 guitarist The Edge all invested in the round.