With 2013 just barely underway, Brazil-based startup ContaAzul already has reason to celebrate. The company has closed a Series A investment round. Entities from both Brazil and the United States participated – Monashees Capital and Napkn Ventures from the former, and Ribbit Capital and 500 Startups from the latter.
A Complete Solution
ContaAzul is an online management solution for small and medium-sized enterprises. It provides a wide range of solutions for customers related to invoicing, cash flow, inventory, contacts and more. According to company CEO Vinicius Roveda, for a monthly fee of between roughly US$10 and US$100 (RR19.90 and R$195), users can save up to US$10,000 (R$20,000) using the ContaAzul system.
Founded in 2011, ContaAzul is currently used by over 10,000 companies and last year was selected for acceleration and investment by 500 Startups. In this latest investment, Roveda sees confirmation of the concept and company in itself, “This new investment confirms the credibility and potential of ContaAzul. Our team has an acute understanding of the need of the owners of small businesses in Brazil to have simple tools to manage their businesses. This in mind, we built a solution that is completely in-tune with their reality. Anyone can learn to use the tool in minute and access that tool from anywhere through the internet.”
ContaAzul will utilize this investment to continue to perfect its product, grow its team and consolidate its national operations. It will also look to identify new distribution channels and potential partners.