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Nubelo closes seed investment round for $1.3M and acquires Prolancer, a Brazilian competitor

Founded in November of 2011, Nubelo is now the leading freelance marketplace in Latin America with operations in 11 countries in the region. It has over 102,600 users, 85,000 active freelancers on their platform and nearly 13,000 freelance jobs published at a value of over 5,000,000 Euros.

After participating in the 5th generation of the Start­Up Chile program, Nubelo has been profiled as one of the program’s most promising participants.

Today Nubelo announces the closing of a new investment round of $1.3M from local investors, lead by Nazca Ventures and supported by La Caixa Capital Risk, Finaves, and South Ventures.

In 2014, their goal is to have 50,000 freelance jobs (valued at $200M) published on their platform– an essential strategy to satisfy their 16 billion Euro potential market of approximately 3.7 million freelances. To spur their growth, they will commence a pilot phase in the North American market, aimed at connecting top Latin American talent to the English speaking market.

Though the English market is lead by Elance and Odesk, they focus almost exclusively on US clients and outsource mainly to India or Asia. Nubelo on the other hand targets the Latin American clients and freelancers which, consequentially is the market where internet penetration is growing the fastest with the most potential (+12% year­ on ­year compared to just 1% in the US). The fact that Nubelo already has more Spanish ­speaking freelancers than Elance and Odesk combined further showcases their massive market possibilities.

“Thanks to online hiring, thousands of job opportunities are created for professionals who want to work from anywhere in the world for clients in their home country or other Spanish­ speaking countries. We’re helping contribute to economic development and labor market growth.” – Francesc Font, Nubelo’s CEO

Prolancer acquisition

Since launching, their sharp growth rate, 230% year ­on ­year, will be fortified by the purchase of their Brazilian competitor, Prolancer, a company that, in two years, has accumulated more than 50,000 registered professionals. There are 100 million Brazilians who currently use the internet, and more than 1.2 million Brazilian companies that already collaborate with independent professionals– a tremendous market with nearly unlimited potential for Nubelo to opportunely tap.

The co­founder of Nubelo in Latin America and the Director of the company in Argentina and Chile, Jorge Araujo, adds: “It’s essential to accelerate Nubelo’s continental expansion in order to continue to lead the market. We’re positive that, in order to reach our goals, the funds we’ve raised in this round are absolutely key. And why Brazil? There is one opportunity to be first, and we are going to take that opportunity. Be the first and continue being the leaders in Latin America.”

“We are very excited with the timing of this new venture especially with the world cup and olympics ahead– Nueblo brings tremendous expertise and value for us. Prolancer, as market leader in Brazil, will only benefit by accelerating our remarkable growth and consolidating our business across the country,” adds Sergio Méndez, CEO and co­founder of Prolancer.

“We are thrilled to invest in Nubelo and accompany them in this challenge to change the way Latin American work. We cannot speak highly enough of the company and the team leading its endeavors,” adds Vanesa Kolodziej, from Nazca Ventures.

Regarding Start­Up Chile Alumni’s success, Horacio Melo, the program’s Executive Director adds that “when our participants are successful, it motivates other entrepreneurs to take the plunge into the startup world. We’re grateful to have been a part of Nubelo’s development and hope that their expansion is remarkably fruitful.”

About Nubelo

Nubelo is the leading freelance platform in Spanish­ speaking countries. Founded in 2013 by seven young entrepreneurs, Nubelo allows companies to increase their flexibility and save money by providing a free talent selection tool, supervision and payment options for freelance workers. They have offices in Spain, Argentina, Colombia, Mexico, Brazil and Chile. The platform provides higher controls on spending and more flexibility to hire people, eliminating the cost of middlemen and providing quickness and variety.

About Nazca Ventures

Nazca Ventures is the first Argentine­-Chilean venture capital fund made for entrepreneurs by entrepreneurs, that invests in early­ stage Latin American tech startups.

About La Caixa Capital Risk

La Caixa Capital Risk invests in innovative Spanish companies with high growth potential, and accompanies them in the different stages in their development. With a capital volume of 73 million Euros, the company invests via four branches: Caixa Capital Micro, Caixa Capital BioMed, Caixa Capital TIC y Caixa Innvierte Industria.

About Finaves

Since 2000, Finaves has been a principal support and inspiration platform for IESE. In addition to offering tools to promising entrepreneurs to grow their company and raise seed capital, Finaves brings together investors, entrepreneurs and the IESE experience to promote new companies. The result is an excellent contribution to the creation of new companies, job opportunities and economic growth– all which are the pillars of economic development.

About South Ventures (IG)

South Ventures is the first and only online platform in Latin America to invest in startups easily and intuitively. They select the best startups so that investors around the world can investment small amounts in high­growth global startups. Having only been in operation of a few months, South Ventures already has more than 1000 registered investors and more than $1.5 million invested in outstanding startups.

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