(PEHub) ContaAzul, a provider of accounting and invoicing solutions for small businesses in Brazil, has secured Series C funding. No financial terms were disclosed. Ribbit Capital led the round with participation from Tiger Global Management, 500 Startups, Monashees Capital and Valar Ventures.
JOINVILLE, Brazil–(BUSINESS WIRE)–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 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 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 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 Vinícius and his talented team will continue to leverage their localized solutions to capture the rapidly-growing Brazilian market.”