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Brazilian internet companies seek funds from China

By Song Jingli | chinadaily.com.cn | Updated: 2017-09-21 07:08
Brazilian internet companies seek funds from China

Leonardo Almeida, CEO and founder of menu.com.vc,introduces his company at a roadshow in Beijing on Sept 19, 2017. [Photo by Song Jingli/chinadaily.com.cn]

Thirty-year-old Leonardo Almeida, CEO and founder of menu.com.vc, said his company's vision is to be the top grocery e-business in Latin America.

Menu is like Alibaba for retailers and they are the Didi to restaurants, said the entrepreneur, a dropout of Harvard Business School.

According to Menu's brochure, the B2B company, which connects wholesale food and beverage producers into smaller businesses providing food services, aims to raise $6 to 8 million, 20 percent of which will be used in marketing and 15 percent of which will be used in financial technologies.

In addition, Groupon LATAM aims to raise $25 million and online payment facilitator BestPay wants to raise $10 million.

Online data collector dotz wants to raise $100 million and NI Participacoes SA, a venture capital fund, wants to raise $125 million to invest in current companies or pipeline projects.

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