Prosus Classifieds Unit Invests 400 Mln In Frontier Car Group
From jenny3dprint opensource
BERLIN, Nov 11 (Reuters) - The classifieds business of Prosus is becoming the main shareholder in Berlin-based second-hand https://paperheart29.blogspot.com/ car trading platform Frontier Car Group (FCG), through a deal that will knit together their operations across emerging markets.
Prosus unit OLX Group will invest up to $400 million in FCG, a startup co-founded in 2016 by 26-year-old American Sujay Tyle with an approach similar to that of another Berlin startup, AUTO1, that has been backed by Japan's Softbank Group.
(Reporting by Douglas Busvine; editing by Thomas Seythal)