Nubox, which is backed by Riverwood Capital, has acquired Colppy, a provider of cloud-based financial management solutions for entrepreneurs in Argentina. No financial terms were disclosed.
LONDON–(BUSINESS WIRE)–Nubox, Latin America’s leading provider of Small Business Accounting Software-as-a-Service (“SaaS) is taking the next step in the expansion of its regional footprint by acquiring Colppy, the leading cloud-first player in Argentina. The acquisition will provide Nubox with a foothold in a country with over 2 million small businesses operating in a highly connected economy. Lead investor Riverwood Capital committed a fresh round of funding to Nubox in order to accelerate integration and further expansion beyond its current operations in Chile and Colombia.
With more than 60,000 small businesses already supported, Nubox has become Latin America’s largest and fastest growing financial management automation platform. Developed for the unique administrative and regulatory requirements of entrepreneurs and small business owners, Nubox simplifies and automates key business tasks such as: accounting, payroll and electronic invoicing. Nubox allows customers to easily integrate their business information with a variety of counter-parties in the ecosystem: customers, suppliers, employees, banks, accountants, regulatory agencies, and sources of potential financing via a simple, easy to use, intuitive user-interface and world-class customer service.
“Our goal has always been to help entrepreneurs and small businesses in Latin America become more efficient and profitable by providing solutions specifically designed for the unique needs of the market,” stated Marcos Mahave Caceres, Nubox’s CEO and co-Founder stated. He added that “we are excited to welcome Colppy’s winning team to Nubox as we join forces to continue executing on our shared vision. For us, this transaction represents a big step forward in our regional expansion plans and helps us consolidate our market leading position in Spanish-Speaking Latin America.”
Launched in 2012 with a cloud-first technology platform, Colppy has emerged as a leading online accounting and administrative solution for more than 1,500 small businesses in Argentina and Colombia. In Argentina, Colppy is integrated with Mercado Libre and Mercado Pago, the largest e-Commerce and Payments platforms in Latin America, as well as with major banks and POS systems.
“We are delighted to see the growth and expansion of our vision to offer solutions that enhance the lives and finances of small businesses throughout Latin America. We are confident that together, we can help promote the growth, expansion and digital inclusion of entrepreneurs throughout the region,” stated Colppy co-Founder and CEO Juan Onetto who along with co-Founder and Chief Product Officer Mariano Rizzi, will join the Nubox management team. Santiago Capurro, who was an initial investor and served as Board Member of Colppy, stated: “We have accompanied Colppy´s successful development since its inception, and are proud that it will continue to expand regionally together with Nubox.”
Founded in Chile in 2001, Nubox was a SaaS pioneer in Latin America, and has now grown into a market leading provider of cloud-based solutions to help small businesses and accountants organize their financial management functions in one seamless, easy-to-use platform. With the aim of digitalizing the accounting function of companies, Nubox delivers order and accessibility, both to accountants and companies seeking automation capabilities for their administrative functions. Nubox now serves more than 60,000 small businesses in Chile, Colombia, and Argentina with World-Class SaaS platform which simplifies and automates key business tasks such as accounting, payroll and e-Invoicing. Nubox is backed by Riverwood Capital, a private equity firm focused on high growth technology and technology-related companies in need of capital and expertise to scale on a global basis.
Colppy is a SaaS company that helps small businesses their administration and accounting functions. Launched in 2012, Colppy became a leading provider of cloud-based financial management solutions for entrepreneurs in Argentina and expanded its operations to Colombia in 2016. The original angel investors, Pablo and Santiago Capurro, have been joined by Latin American venture capital funds such as Troopa.la, Pentilán, MELI Fund of Mercado Libre, Wayra from Grupo Telefonica, and Velum Ventures from Colombia.