Otto Capital Joins Monashees & Kaszek to Back Brazil’s GetNinjas

GetNinjas has closed a US$3 million investment round with participation from Otto Capital, Monashees Capital and Kaszek Ventures. The latter two organizations invested in GetNinjas’ seed round of funding as well.

Based in Brazil, GetNinjas is an online marketplace for offline services. The startup launched in October 2011 and grew its community to over 25,000 professionals within a year. It now fields around upwards of 1,000 service requests per day in a wide range of fields, from home maintenance and cleaning services to private lessons and professional photography.

GetNinjas won the Fnbox Latin America Startup Challenge at TechCrunch Disrupt in September of last year, and we chose its founder, Eduardo L’Hotellier, as a stand-out entrepreneur to watch in 2013.

With this new round of funding, GetNinjas will expand its development team and continue to refine its product. Moreover, it will seek to grow its user base and launch new marketing campaigns.

Regarding the investment, Kaszek Ventures’ Hernán Kazah, who is one of the founders of MercadoLibre, remarked, “The services market is huge. GetNinjas can, eventually, grow to be as big as MercadoLibre. MercadoLibre is currently listed at NASDAQ with a market cap of approximately US$ 4 billion.”