Series A · Enterprise software
Magnar raises $8m Series A for Brazil and Mexico expansion
6 Degrees Capital and Hi Ventures led the financing as Magnar prepares new commercial teams in Brazil and Mexico.
FEN Ventures, Platanus Ventures, Nascent Ventures and Beccar Varela also participated in the $8m Series A.
Magnar plans to grow its development team, improve the product and deepen its presence in existing Latin American markets. It reports about 30,000 users across 350 firms in seven countries, providing a regional customer base for the expansion.
Use of funds
Grow the development team and improve the product
Deepen presence in existing Latin American markets
Open offices and build commercial teams in Brazil and Mexico
Funding history
Series A · This round$8M