The equity funding is made up of five new investors – but none are named. This is according to a filing with the US Securities and Exchange Commission (SEC), first spotted by a Brazilian blog. Existing investors include TCV, Tencent, DST Global, Sequoia Capital, and Ribbit Capital.
“The loss is a decision, and therefore expected as part of the current growth strategy,” chief financial officer Marcelo Kopel said in a blog post. “We chose to invest in the company, people and the development of new technologies. This model is well known and used by technology companies,” he added.