In addition to unicorns like Rappi, Softbank seeks to invest in successful retailers in Latin America to boost them with technological development.
According to Reuters, executives of the company said that Softbank is looking for large companies that offer users unique services. As two examples of this type of company, Softbank pointed to the Femsa and Bimbo companies as examples of good retailers that they would like to become partners.
Bimbo and Femsa are two companies with a significant presence in Mexico. Bimbo has a vast distribution network of bakery and processed food throughout the country, while Femsa is a retailer and distributor with more than 18,000 convenience stores throughout the country.
At the beginning of the year, Softbank announced that it would allocate 5 billion dollars in investments in Latin America. The COO of the Japanese conglomerate is in charge of managing this private fund and identifying the best companies to invest in the region and solve the problem of lack of funds that Latin American startups usually have.