UOL EdTech, a Brazilian technology platform for education, announced the acquisition of Passei Direto, a peer-to-peer study platform that has 4 million active users. The acquisition comes shortly after UOL EdTech received a round from the SoftBank Latin America Fund. At the time, EdTech had reported that expanding its portfolio of digital solutions for education was one of the investment fronts. The amount paid for the acquisition was not disclosed.
Alex Augusto, UOL EdTech’s CEO, said that Passei Direto will make it possible to diversify UOL EdTech’s ecosystem. “Passei Direto is totally platform-based and connects content producers to students. The platform’s scalability is in line with our strategy of accelerating learning.”
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On the Passei Direto platform, educational content producers create and share content from different areas of knowledge. The platform today gathers 10 million contents from more than 20,000 disciplines. Before being acquired by UOL EdTech, Passei Direto had already received rounds from Redpoint eventures, Valor Capital Group, Crescera, Grupo Xangô, Chegg, Endeavor Catalyst, and Península Participações.
UOL EdTech’s strategy is to expand its user base and reach students from all stages of learning – from elementary school students to the trained professional who wants to continue studying.