Riverwood backs Brazilian on-demand taxi service 99

Brazil-based 99, a ride-hail service provider, has secured an undisclosed amount of funding. The investors are Riverwood Capital and Chinese ride-hail service Didi Chuxing. Simpson Thacher represented Riverwood on the fundraising.

PRESS RELEASE

Simpson Thacher represented Riverwood Capital in connection with its investment in 99 (formerly 99 Taxis).

99 is one of the leading Brazilian-based ride-hail service providers, which primarily operates an on-demand taxi service but has also recently launched a peer-to-peer service. Riverwood is investing in 99 together with Chinese ride-hail service DiDi.

The Simpson Thacher team was led by Partner S. Todd Crider (M&A).