LatAm List – Omie, a São Paulo-based startup creating a business management platform for SMEs, recently raised $20M from Riverwood Capital in their Series B round. This amounts to a total of $27M raised since it was founded.
“We were impressed with Omie’s leadership and execution,” said Joe de Pinho, Riverwood Capital’s Vice President, who will join Omie’s board. “Plus, we simply felt they had the best product out there to serve this massive market, in terms of what they offer and how they run their business.”
Omie’s platform helps SMEs manage their daily operations through invoicing, inventory management, accounts receivable, and accounts payable, as well as with customer relationship management, POS services, stock management, working capital management and financial services.
“With our offering, we help solve the biggest operational pain points Brazilian companies face as they grow, in almost any segment,” said Marcelo Lombardo, founder and CEO of Omie.
The Brazilian startup’s success is reflected in its numbers. In 2018, its revenue grew to $7.3M from $4.3M in 2017. They currently have 215 employees, up from 38 in 2017. As for its potential clients, the Brazilian market currently has approximately 2.7 million SMEs.
This round of investment will be used to further develop its products and strengthen its direct sales and franchise model, and to continue growing their team by adding more than 100 new positions.
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