Brazil’s Contabilizei Raises US$63 Million in Round Led by SoftBank

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Contabilizei announced that it raised a Series C round of US$63 million, the equivalent of R$320 million. The investment was led by SoftBank, with Goldman Sachs and PruVen Capital also participating.

The company, that was born in Curitiba, Brazil in 2013, has come with this news just 14 months after it raised another round led by SoftBank, whose amount was not disclosed. But according to Crunchbase data, Contabilizei is estimated to have funds of more than US$80.1 million.

Although it is an emerging company that is backed by the most important international venture capital funds, its valuation is unknown.

Next Steps: Expansion and Acquisitions

Contabilizei will use the new capital to expand and make acquisitions, according to CEO and co-founder Vitor Torre. This will lead the startup, which offers accounting services to companies, to increase its number of employees from 900 to 1,300 by the end of 2022.

The company was founded by Fábio Bacarin and Vitor Torres. It claims to have more than 30,000 clients in around 60 cities in Brazil, as well as 900 accountants. 

Contabilizei initially helped companies with annual revenues of up to R$4.8 million a year. Their services included help with with invoices and tax calculations. It has now expanded its services and also offers these companies help in opening bank accounts and choosing health insurance for themselves and their employees.

40% of Contabilizei’s customers already have a current account with a partner company. The company wants to provide this service on its own, so it is very likely that we will soon hear that it also offers financial services.

Although it was born completely digital, the startup has just added telephone support and physical stores in Sao Paulo and Rio de Janeiro.

Other investors that have led Contabilizei’s past rounds include Curitiba Angels, Kazek, Iga Ventures, Google Launchpad Accelerator and Point72 Ventures.

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