Business

Brazilian startup Partyou, focused on student unions, gets a $3 million Seed round from Bradesco

Partyou, a Brazilian startup that has the university community as its target audience, started 2022 with a $3 million (equivalent to about BRL 16 million) Seed round led by Bradesco PE&VC, the bank’s venture capital manager. Asterisk Partners, a venture capital firm based in the United States, also participated in the funding.

The idea behind Partyou, founded in 2016 by Otávio Dutra, Thais Mellone and Leandro Souza, was to develop a portfolio of financial products and services aimed at student organizations.

READ ALSO: Data-driven edtech Slang raises $14 million to beat up English illiteracy in Latin America

Partyou’s platform offers a set of features that make student associations more professional, such as document regulations and accounting services, member control, and even a marketplace that allows the sale of tickets for events or products, one of the main sources of revenue for this kind of organization.

The startup currently has more than 900 student unions in its user base, serving about 165,000 students in 123 Brazilian cities.

READ ALSO: Venture capital volume towards edtechs reached a new record in 2021, says HolonIQ

The capital raised in the Seed round will be used to consolidate the business model and expand to other cities. The goal is to surpass the 200-city mark by the end of the year and reach about 1.5 million students, 100.000 accounts holders, and 6.000 student organizations.

“Having Bradesco as a partner enhances Partyou’s mission to offer solutions focused on a specific client profile, the university student, with whom we have a unique engagement channel and an understanding of their activities and needs,” said Otávio Dutra, co-founder and CEO of Partyou.

This post was last modified on January 22, 2022 2:10 pm

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