Contact buys Spanish startup Nubelo

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Integral service around a transaction
BY : Diego GutiérrezDecember Tue, 2016
Freelancer, the world's leading Freelancer recruitment platform, is buying Nubelo to grow in the Spanish-speaking market.
About Nubelo buys Spanish startup Nubelo



Nubelo  based in Barcelona, was founded in 2012 by Spanish entrepreneur Francesc Font and Argentinian brothers Nicolás and Jorge Araujo Muller.

Already from his first year of life he received a seed round and after that he has done 4 more, achieving a total of $3.4M and giving space to renowned investors in our country such as Caixa Capital Risc, Nero Ventures, South Ventures, Start-Up Chile, Mountain Nazca & South Ventures.

In July 2015 Nubelo bought, a Brazilian platform founded by Sergio Mendez Baiges, with offices in São Paulo, to expand its reach into the Portuguese market.

Nubelo was currently the largest freelance platform in the Spanish-speaking market after, with 50 employees in its offices located in Barcelona, Buenos Aires, Bogota and Sao Paulo, Brazil.

If we look at its financial data, it has managed to grow very rapidly. The investment rounds received have allowed it to grow inorganically (purchase of Prolancer) and to invest in assets. As it is a recently created technology company, it still has a negative Ebitda, but this is normal for a recently created company that is trying to position itself as a leader in its sector in the market and for this it needs to invest heavily.

Freelancer procurement policy

The Sydney-based company, founded in 2009, has a growth strategy of acquiring competitors in various markets.

"Freelancer has made a total of 12 acquisitions since 2010 to become the global leader in its sector. The IPO in 2015 has also allowed it to gain more financial muscle to continue buying and opening up new niche markets. In 2015 it bought the fraud protection and secure payment platform Escrow, for $$7.5B" says Diego Gutierrez, corporate finance expert at Abra-Invest.

In Europe, it had already acquired companies such as Warrior Forum,, Projectlinkr and Zlecena.

Regarding the acquisition of Nubelo, Freelancer continues to grow exponentially in the Spanish-speaking market. In 2012, in Latin America, it had only 0.2% of operations. Four years later, this market now represents 10% of Freelancer's total revenue, with 1.8 million users who have uploaded 500,000 projects.

Freelance platforms, an active sector in 2016 buys Spanish startup Nubelo

We have compiled a complete list of freelance platforms, their investment rounds and acquisitions in the sector, which you can obtain by filling out the contact form or by calling + 34 946424142.

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