Mentez, a Latin America-oriented social gaming publisher received an investment of undisclosed amount from Insight Venture Partners.
The company will use the money to expand its portfolio of social games, and grow across Latin America.
As also stated by Juan Franco, co-founder and CEO of Mentez, “This investment from Insight Venture Partners will help us expand inside Brazil – which is our dominant market – as well as help us take advantage of the broader opportunities in Latin America”.
In conjunction with the funding, Insight Venture Partners Managing Director Jeff Horing will join the company’s board of directors.
Mentez currently manages more than 21 social games on Orkut, the dominant social network in Brazil, with more than 50 million daily active users, and 7 on Facebook. Earlier this year, the company signed an agreement with Playdom to distribute the company’s gaming titles on Orkut, notably Tiki Resort and Bola.
Mentez also runs an alternative payments network in Brazil called Paymentez®, which offers players 7 alternative payment options, recognizing that credit cards are not widely used in Brazil. These include a proprietary network of 25,000 Internet cafes, and more than 100,000 retail locations across the country.
The company currently operates offices in Brazil, Columbia, the US, the UK and China.
FinSMEs
11/08/2010