Oakberry, the Açaí brand, has secured BRL 325 million ($67 million) in a Series C funding round, with the goal of expediting the company’s global expansion strategy.
The funding was raised through funds managed by the Brazilian investment bank BTG Pactual (BPAC11), the largest investment bank in Latin America, which also encompasses a portfolio of impact funds.
Oakberry Aims for $200 Million in revenue:
Established in 2016, the company presently operates around 700 stores in over 40 countries. The Brazilian-founded açaí brand expects to surpass $200 million in revenue and expand its global presence to nearly 1,000 stores by the end of this year.
The funds will be utilized to expedite Oakberry’s global expansion strategy, with a particular focus on swift growth in the United States market, as stated by the company.
Georgios Frangulis, CEO and co-founder of Oakberry, said, “We designed Oakberry to be a global brand with a strong footprint in the United States, and the investment from BTG Pactual brings not only a financial partner, but also a strategic partner with a keen focus on reinforcing our expansion. The strategy to invest in corporate stores in high-demand markets, like the United States, represents an excellent opportunity for capital allocation while, at the same time, establishing our brand in these regions.”
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