Member Investor: Crescera Capital Company: Grupo Zelo Industry-Sector: Consumer Services
Since the 1891 constitution was established, funeral services in Brazil have been the responsibility of individual municipalities. Despite this constitutional mandate, the private sector has driven the development of the domestic death care industry, as services provided by municipalities have often been insufficient. Most municipalities have chosen to focus on the regulation of funeral services and, in limited instances, the provision of subsidies for related expenses.
In July 2020, Crescera Capital announced a BRL390m investment into Zelo to support the company’s growth plans and embark on an ambitious national expansion plan. At the time of investment, Zelo already had 230,000 active funeral plans covering approximately 1.5 million Brazilians in Minas Gerais, Rio de Janeiro and Espírito Santo. Since Crescera’s investment, Zelo has closed over 27 additional acquisitions to become the largest funeral service company in Brazil. The company now has over 600,000 active accounts that cover 4.2 million Brazilians across 2,000 municipalities in 12 different states and the Brasilia Federal District. Zelo offers a range of funeral plans to meet customers’ financial needs, with basic plans starting at BRL40 per month for up to 14 dependents… download the full case study to read more