ODATA secures new finance for Brazil expansion
ODATA Brasil is to expand three of its data centres in Brazil as part of a financial arrangement enabled by the World Bank Group's IFC.
IFC has led a new, second tranche of financing following an earlier line agreed in November 2020. That comprised $30 million of IFC's own resources and marked the organisation's first data centre financing project.
For this second disbursement, IFC mobilised two new investors: Itaú BBA and SMBC, AKA Sumitomo Mitsui Banking Corporation.
As a result, ODATA Brasil S.A. now has the funds to expand its three data centres in the country, which its website lists as SP01, SP02, and SP03.
"The arrival of the new funders, Itaú BBA and SMBC, provides even more financial robustness for ODATA to continue to expand rapidly in Brazil and Latin America, contributing to the improvement of digital infrastructure in the region," said Fernando Jaeger, ODATA's new business director.
Jaegar highlighted that, in addition to the financing of the new facilities, IFC has "contributed to the company achieving the best sustainability standards in the market, offering value to society and our customers".
IFC said the funds will expand access to independent data centre capacity in Brazil, "sustaining the growth of the digital economy and expanding quality digital services for businesses and people". The organisation said that over the last decade it has "committed and mobilised $5.9 billion for telecommunications, media, and tech projects around the world". As Capacity reported, it has recently backed projects by DigitalBridge.
Carlos Leiria Pinto, IFC's country manager in Brazil said of this latest development: "This project supports the growth of productivity and competitiveness in the Latin American data hosting services market. IFC's mobilisation aims to promote greater digital resilience and a sustainable economic recovery in Brazil, in addition to meeting the population's demand for cloud services."
A colocation specialist ODATA has six data centres at present: three in Brazil and one each in Colombia, Chile and Mexico.