SUMA Secures Stick to-on Financial investment from Riverwood Money

LONDON, Could 13, 2021 /PRNewswire/ — SUMA SaaS Holdings (“SUMA“), the major SMB monetary management SaaS provider in Spanish-talking Latin The usa, has introduced a observe-on advancement expenditure from Riverwood Money, a US-primarily based development phase technology financial commitment agency.  All through the previous 5 several years, SUMA has invested extra than USD 30 million in natural and inorganic initiatives in buy to develop the greatest economic administration software program and accounting platform for SMBs in the location.

SUMA allows SMB proprietors to regulate their each day functions, make improvements to economic visibility and collaborate with their accountants by using its multi-tenant, cloud platform, letting them to make much better enterprise conclusions. SUMA’s alternatives include things like economical planning, hard cash-circulation visibility, tax calculations and reporting, payroll management, billing, inventory, automated reconciliations with banking companies and tax authorities, and issue-of-sale and e-commerce integrations.

“The need to have for fiscal administration remedies in the cloud has grow to be much more pronounced as providers change to remote get the job done,” reported Matthew Cole, CEO of SUMA. “With Riverwood’s continued assist, SUMA is consolidating its main place in Spanish speaking Latin The united states, which is dwelling to +10 million SMBs.” 

“Because our initial investment in SUMA in 2016, we have found the firm develop across the area and supply a exceptional, digital knowledge to 1000’s of SMBs, in buy to make their small business operations easier, a lot more economical, and scalable.  We feel SUMA can enjoy an important position in shaping the economy of Latin The usa by embracing the digitalization of hundreds of hundreds of SMBs across most sectors in the overall economy,” said Francisco Alvarez-Demalde, co-founder and running partner at Riverwood Cash. “We are thrilled to go on developing on that vision in partnership with SUMA’s entire world-course staff and focus on supporting them in the up coming stage of progress.”

Riverwood Cash is a advancement-targeted expenditure organization that invests in higher-growth, middle-industry organizations in the know-how, technology-enabled, and other connected industries. They have invested in a number of major tech businesses in Latin The us around the previous ten years, such as 99, Conductor, Globant, Navent, Omie, RD Station, VTEX,  among the other individuals.

“We are firm believers in the benefits of SMBs and their accountants collaborating on a one ledger in the cloud,” claimed Joe De Pinho, Chairman of SUMA and Principal at Riverwood. “SUMA’s marketplace-foremost platforms in Chile, Mexico and Argentina compile the most accurate, actual-time information on behalf of SMBs, enabling a number of prospects in money companies and system automation which will be additional supported with this financing round.  We help SUMA’s aim to aid its buyers develop by means of clear visibility in their running and money details.”

Currently, SUMA’s yearly recurring revenues are increasing at an annualized charge of +40{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} when currently being dollars-circulation constructive, exceeding a Rule of 40 and exhibiting the strength of its a few functioning firms. SUMA supports +100,000 SMBs and accountants by means of its earth-course platforms: Nubox in Chile, Bind ERP in Mexico, and Colppy in Argentina.

The new cash will additional speed up SUMA’s expansion with planned investments across sales capability, marketing and advertising, analysis and improvement, and regional expansion by means of extra acquisitions.  “Riverwood’s methods, business knowledge, and assistance will be essential to proceed consolidating the Spanish talking Latin American market and empower +1 million SMBs,” mentioned Santiago De La Vega, Head of Corporate Enhancement at SUMA.

About SUMA

With more than 100,000 little organizations already supported, SUMA has turn into Spanish Talking Latin America’s greatest and speediest-growing fiscal administration automation system. Created for the one of a kind administrative and regulatory specifications of business people and modest organization entrepreneurs, SUMA simplifies and automates critical business enterprise jobs such as accounting, payroll, and electronic invoicing. SUMA’s system will allow shoppers to easily combine their business enterprise information and facts with numerous counterparties in the ecosystem: prospects, suppliers, personnel, financial institutions, accountants, regulatory organizations, and resources of possible financing through a straightforward, quick-to-use, intuitive user interface and world-course consumer services. For a lot more details, remember to check out www.sumasaas.com

About Riverwood Cash

Riverwood Capital invests in superior-development providers in the technology and technological innovation-enabled industries. Riverwood presents a exclusive blend of operational, strategic, technological innovation, and economical perception to portfolio corporations that ordinarily will need advancement cash and abilities to scale on a world wide basis. The agency seeks to make investments in recognized enterprises with a demonstrated technology and business enterprise design, and the correct match in conditions of tradition and values. Riverwood has offices in Menlo Park, CA; New York, NY; and São Paulo, Brazil. For more facts, you should check out www.riverwoodcapital.com

Santiago De La Vega
SUMA SaaS
www.sumasaas.com
Cell: (+521) 5517984650
[email protected]

Resource SUMA SaaS

Associated Inbound links

http://www.sumasaas.com