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Despegar received a USD 200 million investment and bought the Brazilian fintech Koin

Despegar announced the acquisition of the Brazilian fintech Koin. On the other hand, they were also found to have received an investment of $ 200 million. This was reported on September 1st by the iProUp portal from Argentina.

As published by this medium, “The company will use the funds acquired through separate private equity agreements with Waha Capital and L Catterton for corporate purposes, including potential acquisitions.”

Working together

In the iProUp article it says: “Despegar and Koin have been working together since the beginning of 2019. Fintech allows Brazilians who book with Despegar to pay for their trips in installments. The business model is based on “book now and pay later”.“.

Despegar received a USD 200 million investment and bought the Brazilian fintech Koin
Despegar received a USD 200 million investment and bought the Brazilian fintech Koin

In this sense, they confirmed this from Despegar The acquisition of Koin aims to improve financial services for its customers.

losses

The article also noted that Despegar posted a loss of $ 57 million over the period and that reservations on its platform in the Latin America region were down 96 percent.

Damian Scokin, CEO at Despegar, commented:

“In the past quarter we were not only affected by the natural decline in demand for travel, but also by the restrictions imposed by various governments in the region, which were very severe in some countries.”

Then he added:

“It is encouraging that we saw a positive trend in bookings in both June and July that continued into the first two weeks of August.”

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