The Colombia-based user authentication startup Truora acquired the Brazilian firm ZapSign. This is a digital signature startup that allows its 250,000 users to sign contracts electronically on mobile devices. The deal value was not disclosed, and ZapSign will be integrated into Truora’s existing tools.
As Maite Muñiz, Truora’s co-founder explains,
“Truora is a startup that helps businesses acquire users. We work with them throughout the full user acquisition funnel, so think onboarding, marketing campaigns, retargeting them when they get lost, reactivating them, and working and helping businesses reach their users in multiple channels.”
In April, the company announced it raised a $15M Series A, funding that allowed them to accelerate growth opportunities in Mexico. Some of their clients in this country are Clara, Mercado Libre, Rappi, Zubale, Grupo Modelo and 99 Minutos.
The user authentication startup Truora absorbed all of ZapSign’s employees. The founders of the e-signature company, Renato Haidamous, and Getúlio Santos, have expanded their customer base through Brazil and reached 8,000 users. Also, 1 million signatures go through the startup each month.
ZapSign and Truora are startups that work towards simplifying the interaction of users through digital channels. As Maite Muñiz shared with Latamlist, acquiring ZapSign just made sense for them:
“They’re covering a product that is part of our funnel. You need contracts to bring on users in certain countries or certain industries, and we need to do this in a way that doesn’t require us to open a computer. So for our users and business case, it just made sense that we acquire ZapSign and try to make anyone use it. It’s just such a simple functionality and a simple UX.”
This deal represents for ZapSign an opportunity to expand its operations to other countries such as Mexico, Colombia, and Chile. The startups’ tools complement each other: Truora can integrate the signing of contracts into their own funnel, and ZapSign can now strengthen its user authentication process through biometric and background checks.
Read more on ZapSign’s press release.