French startup Swile turns unicorn and targets Brazil

French human resources startup Swile, which acquired Brazilian company Vee Benefícios, is officially a "unicorn" (a technology company valued at over US$1 billion). The mark was reached after a record capital injection of US$200 million led by Japanese SoftBank's fund focused on investments in Latin America.

RIO DE JANEIRO, BRAZIL - The French company's CEO and founder Loïc Soubeyrand says an IPO (initial stock offering) should occur in about 5 years. By then, the startup aims to be worth 10 times more.

SoftBank itself should invest even more in the next few years, given that it has US$3 billion to spend in the region.

Swile currently holds 15% of employee benefits in France, the second largest market in this segment worldwide - however, Brazil is the global leader. "The corporate benefits market in Brazil handles R$150 billion per year," says Swile's director in . . .

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