ContaAzul has picked up its second investment round of the year, and Grupo Abril has taken its first step into e-commerce. Get the details on two major pieces of investment news to come out of Brazil this week.
The Fourth Time’s the Charm for ContaAzul
ContaAzul has closed its fourth investment round. This marks its second capital injection of the year, the first having come in January. The financial details of the investment, classified as Series B, have not been revealed.
Ribbit Capital led the round, with participation from Monashees Capital and Napkn Ventures. All are previous backers. San Francisco-based Valar Ventures got in on the action as well. Vinicius Roveda, Founder and CEO of ContaAzul, was quoted in Startupi:
In less than two years on the market, ContaAzul has consolidated as a provider of management solutions for micro and small businesses and is undergoing exponential growth. This new contribution demonstrates the confidence of our investors in the future of the business, even at a time when the market is highly selective for investments of this nature.
Launched in 2011, ContaAzul is a Brazil-based provider of an online management solution for small businesses. It helps business owners and managers handle cash flow, inventory and contacts, claiming to help its clients save up to US$10,000 by using its system. Currently, ContaAzul has 10,000 paying clients. It is a 500 Startups alum.
Grupo Abril Dips its Toes into the E-Commerce Pool
Yeserday, Grupo Abril announced its very first acquisition in the e-commerce sector. Its pick: Meu Espelho, an online retail platform for health and beauty products. Abril acquired 51% of the company, informing that the percentage may be increased in 2014.
Given Grupo Abril’s reach – it is Brazil’s second largest media conglomerate – this will likely mean big things for Meu Espelho, which will receive the media support of all of Abril’s products and publications. Looking ahead, the Meu Espelho team hopes to double its product catalog to meet the anticipated increase in demand.
Grupo Abril has been making some interesting moves as of late. A big one: the announcement of a Huffington Post partnership in September to produce a Brazilian version of the publication.
