Buk, the Chilean start-up of cloud-based human resources applications, raised US$50 million in its A round of financing, one of the highest amounts raised by a Latin American start-up at this stage. The amount raised puts the company's value at US$417 million, the third highest for a Chilean start-up, after Cornershop and NotCo.

Greenoaks, a global investment firm based in San Francisco, led the funding round, in which Softbank, the tech venture funding giant, also participated. Buk was founded in 2017 and currently has more than 4,000 customers in Latin America. The funds will be used to accelerate its growth in Mexico, consolidate its presence in the Colombian and Peruvian markets, strengthen technology and product development and the acquisition of other companies.