ContaAzul was founded in 2012 to bring cloud management platforms to small businesses in Brazil. It quickly gained international attention as one of the first companies to be accelerated by 500Startups. ContaAzul was also voted one of the ten most innovative startups in Latin America by Fast Company in 2014.
While Tiger Global Management had already made significant investments in ContaAzul since 2015, the New York based investment firm expanded its investment with this US$30M Series D equity investment. Endeavor Catalyst also participated in the round.
ContaAzul is the leading cloud management platform in Brazil and will use the investment to double its growth in 2018. They will continue to expand the platform in order to improve communication between businesses and their accountants and will enhance their connections to banks, apps, fintechs, and government programs.
Stated Vinicius Roveda, Co-founder and CEO of ContaAzul, in the original article on LAVCA:
“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”
This was the largest equity investment ContaAzul has received to date, which will allow the company to continue supporting small businesses in Brazil.
Read the original article on LAVCA.