Stay up to date on our entrepreneurs, events, research and more. Check out our November newsletter here.
ContaAzul, Brazil’s leading provider of cloud accounting software, announced this April that it had raised US$30 million in a Series D funding round led by Tiger Global Management, with participation from Endeavor Catalyst. With the transaction, Tiger Global – which first invested in ContaAzul in 2015 – is now expanding its stake in the company. This is the largest round of equity investment received by ContaAzul.
Founded in 2012 by Endeavor Entrepreneurs Vinicius Roveda and João Zarantine, ContaAzul provides an innovative, modern and easy-to-use online management system tailored to the needs of small companies and their accountants.
ContaAzul will use the funds raised to accelerate its growth plans, seeking to double in size in 2018. The company’s growth strategy is focused on expanding its platform, aiming to improve collaboration between small businesses and their accountants. Additionally, the company plans to enhance its connection capabilities with banks, apps, fintechs and government institutions. The funding will also enable ContaAzul to develop a larger national footprint and further establish itself as the partner of choice for accountants that provide services to small businesses.
“Our purpose is to drive the success of small businesses. ContaAzul is a platform that allows business owners to organize and gain control over their businesses, as well as being able to work in an integrated environment with their accountants, eliminating rework, paperwork and other bureaucracies that have always hampered that relationship”, said Vinicius Roveda, Co-founder and CEO of ContaAzul. “Having accountants and business owners working together on the same platform is unprecedented in Brazil, driving better organization for business owners and greater productivity for their accountants. As a consequence, accountants gain the access and tools needed to realize their potential as financial and strategic advisors to their small business customers”.
A partner of a number of industry organizations of the accounting sector, including Sescon Sao Paulo, ContaAzul will hold more than 40 roadshow events targeted at accountants in select cities throughout Brazil this year.
ContaAzul was selected into the Endeavor network in May 2017, during the 71st International Selection Panel in London. Since then, the entrepreneurs have received support from Endeavor Brazil as they look to grow, expand their marketing efforts, and raise capital.
ContaAzul (www.contaazul.com) is a Brazilian company founded in 2012 that offers an innovative cloud management system for small businesses. ContaAzul was one of the first companies accelerated by 500Startups, a business acceleration program based in Silicon Valley, in the United States. Subsequently, ContaAzul has drawn the attention of numerous investors, including Tiger Global and others. In 2014, it was among the 10 most innovative companies in Latin America, in a selection made by the US magazine, Fast Company.
Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm’s fundamentally oriented investments focus primarily on the global Internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry’s, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised over $100M in philanthropically donated and invested capital, and invested into 76 Endeavor companies in 21 markets. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina and Yemeksepeti.com (acquired by Delivery Hero) in Turkey.
© 2019 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Website by BRITEWEB