Oakberry, a Brazilian global açaí brand, raised $67M in Series C funding.
The round was led by the Brazilian investment bank BTG Pactual (BPAC11).
The company intends to use the funds to accelerate its global expansion strategy, most notably through growth in the United States market.
The company intends to use the funds to grow revenue to $200MM and expand to 1,000 locations in the next year.
Founded in 2016 and led by CEO Georgios Frangulis, Oakberry currently has approximately 700 stores across more than 40 countries. Now, the brand expects to reach over $200M in revenue and nearly 1,000 stores globally by the end of 2024. In addition to its corporate stores in the United States, the chain is exploring co-investments in countries such as Australia and Portugal as additional markets of importance for funding allocations from the capital round.
Since the arrival of Bruno Cardinali as Global Head of Marketing and Leandro Gasparin as Head of Business North America, the pair – both alumna from dominating restaurant chains Burger King and Popeyes – have guided the brand through an expansion in the U.S. and globally, opening more than 150 new stores in 2023 alone. Now, with 35 locations in the U.S., Cardinali and Gasparin, in partnership with Oakberry’s leadership team and BTG Pactual, will lead the açaí brand to 200+ U.S. stores, while also tripling its European footprint by 2026.
In addition to its corporate stores in the United States, the chain is exploring co-investments in countries such as Australia and Portugal as additional markets of importance for funding allocations from the capital round.
FinSMEs
02/01/2024