ContaAzul, a provider of SaaS accounting and invoicing solutions to SMBs in Brazil has raised a Series C round of financing led by existing investor venture capital firm Ribbit Capital.
Tiger Global Management also participated along with existing investors 500 Startups, Monashees Capital and Valar Ventures.
ContaAzul will use the funding to develop a new specialised 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,” says Vinícius 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 specialised 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 says: “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,” says Micky Malka, founder and General Partner of Ribbit Capital. “We are confident that Vinícius and his talented team will continue to leverage their localised solutions to capture the rapidly-growing Brazilian market.”
