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ContaAzul raises Series A from Monashees, Ribbit Capital, 500Startups and Napkn Ventures

7 January 2013


Brazilian startup ContaAzul today announced that it has raised a series A round of financing from Monashees Capital, Ribbit Capital, 500Startups and Napkn Ventures.

ContaAzul is a web-based accounting SaaS platform that was nominated in the best web app category at TNW Brazil Startup Awards a few months ago.

It is also one of the Latin American startups that have recently participated in 500Startups (see our previous post). After graduating from the acceleration program in 2011, it had already received seed capital from Monashees Capital and Napkn Ventures.

The company plans to use this new funding to improve its product, hire staff and consolidate its operations in Brazil. Its ultimate goal is to acquire new users thanks to a simpler tool, which has been tailored to fit the needs of Brazilian business owners.

ContaAzul’s CEO Vinicius Roveda made the following comment, which we translated into English:

“We understand that to attend the micro and small business owner, it is necessary to create a new tech company model and go beyond software. With that in mind, we put a lot of energy and ressources to guarantee outstanding customer service.”

ContaAzul currently boasts 10,000 business clients. It now plans to expand its distribution channels and develop existing partnerships.