Mexico City – Rankmi, a HR tech startup, closed a Series A round led by SoftBank Latin America FundThe amount was not disclosed by the Chilean company, however, it assured that it received a total investment of US$48 million when it merged with the Mexican payroll company Osmos.

The investment in Rankmi is atypical, since it represents the first venture investment of the startup that manages the talent of companies and does so by jumping to a Series A.

The operation marks the return of SoftBank Latin America Fund investments this 2023. The fund of Japanese origin had been cautious after the losses reported by technology companies on the stock market in 2022.

Last year, the SoftBank Latin America Fund participated in only four investments in Argentina that totaled US$445 million, according to data from the data company Transactional Track Record (TTR).

This 2023 the strategy of SoftBank Group Corp. is to focus its investments in Latin America on startups thatthat are already part of your portfolio. The strategy is aimed at helping finance M&A amid falling valuations, it reported. Bloomberg News This Tuesday, February 28.

SoftBank’s pace of investment in Latin America has slowed after the company caused quite a stir in 2019 when it began allocating a $5 billion fund dedicated to startups in the region.

 

Some 30 months later SoftBank announced a second $3 billion fund. It has so far committed $7.6 billion of capital in the region with a current fair value of $6.4 billion, according to data from the conglomerate.

Source: World Today News