[February 20, 2015] |
|
ContaAzul Raises Series C Funding
ContaAzul, the leading provider of easy-to-use SaaS accounting and
invoicing solutions to SMBs in Brazil, today announced it has raised a
Series C round of financing. Existing investor Ribbit (News - Alert) Capital, a venture
capital firm focused on the financial services industry, led the new
investment round, with participation from Tiger Global Management as
well as existing investors 500 Startups, Monashees Capital and Valar
Ventures.
ContaAzul will use the funding to develop a new specialized platform
catered for Brazilian accounting firms, which will allow customers to
achieve greater integration and more productive interactions with their
customers. The Company also plans to use the new capital to further
develop its accounting and invoicing platform, improving integration
between our customers and banks, the Brazilian government, their
suppliers and customers.
"At ContaAzul, we are furthering our mission to make it easier for small
business owners to do business," said VinÃcius Roveda, Co-founder and
CEO of ContaAzul. "With this new round of funding, we hope to continue
to transform the Brazilian accounting market with new and more
specialized platforms tailored for Brazilian SMBs. Our newest platform
will enable our customers to reach unprecedented levels of productivity
by integrating key channels between our customers, banks, government
agencies, their customers and suppliers.
Roveda added, "We are also excited to welcome Tiger Global as an
investment partner, which has a strong track record of backing leading
technology companies serving the Brazilian market. We look forward to
continue collaborating with our world-class investors as we continue to
expand our business and empower Brazilian SMBs."
"ContaAzul has enabled thousands of Brazilian entrepreneurs to
streamline their accounting process through its simple and efficient
invoicing solutions, providing sophisticated infrastructure and back-end
capabilities that SMBs would not normally have access to," said Micky
Malka, founder and General Partner of Ribbit Capital. "We are confident
that VinÃcius and his talented tea will continue to leverage their
localized solutions to capture the rapidly-growing Brazilian market."
About ContaAzul
Founded in 2011, ContaAzul offers innovative, easy-to-use SaaS (News - Alert)
accounting and invoicing solutions for small businesses in Brazil, the
world's fastest-growing small business market. More than 400,000 small
businesses used ContaAzul helping them to save time and focus on growing
their business through its cloud-based platform which uniquely addresses
the complexities of the Brazilian marketplace. The Company was the first
Brazilian startup selected to participate in the Silicon Valley-based
500 Startups accelerator program and graduated in 2011. ContaAzul was
named The Next Web's "Best Brazilian Web Application" in 2012, nominated
as the publication's "Best B2B Startup" in 2013 and was considered one
of South America's most innovative companies by Fast Company. For more
information, please visit www.contaazul.com.
About Ribbit
Ribbit Capital is a venture capital firm that invests globally in unique
teams and brands who are on a mission to transform financial services.
Headquartered in Palo Alto (News - Alert), Ribbit believes the category is profoundly
under-innovated and looks to support entrepreneurs building the
financial businesses of the future. For more information, please visit http://ribbitcap.com/.
About Tiger Global
Tiger Global is a fundamentally oriented, global investment firm. The
Firm deploys capital in private equity partnerships and public equity
funds. Tiger Global's private equity partnerships have ten-year
investment horizons and invest in growth companies in the global
Internet and technology sectors. Tiger Global's private investments have
included SurveyMonkey, Warby Parker, Yandex (News - Alert), Facebook, Linkedin, JD.com,
Despegar, Mail.ru Group, Ctrip, Flipkart, Makemytrip, Justdial,
Netshoes, MercadoLibre, OnDeck and Eventbrite. The Firm's public equity
funds focus on long-term trends in the technology, telecom, media,
retail and consumer sectors. Tiger Global was founded in 2001 and is
based in New York.
About 500 Startups
500 Startups is a Silicon Valley venture capital seed fund and startup
accelerator. We invest in a wide variety of tech startups all over the
world. We run an incubation program emphasizing internet marketing and
customer acquisition, design and user experience, and lean startup
practices and metrics. Our investment team and mentor network has
operational experience at companies such as PayPal, Google, Facebook (News - Alert),
YouTube, Yahoo, LinkedIn, Twitter, Apple, and Sesame Street (okay,
actually we just watch the show, but we hope to be on it someday).
About Monashees
Founded in 2005, Monashees Capital is a venture capital firm that helps
great entrepreneurs build great companies. It has invested in
category-defining leaders in Brazil, such as 99Taxis, Bidu, ContaAzul,
Eduk, Elo7, Enjoei, MindLab, Oppa, Peixe Urbano, RunRun, and VivaReal.
About Valar
Valar Ventures is an internationally-focused venture capital firm backed
by Peter Thiel. With offices in New York and San Francisco, Valar
invests exclusively in companies outside of the United States. Valar
believes that over the next decade an increasing number of
transformative technology companies will be started outside of the US,
and that the founders of those companies will benefit from having a US
partner that understands their unique challenges and opportunities and
can help them access US networks.
[ Back To Homepage ]
|