Foley & Lardner LLP acted as legal counsel to Omie as they closed a $110M financing (BR 580M) led by Softbank, with additional investment from Riverwood, Dynamo, Velt, Bogari Capital, Hix Capital and Brasil Capital.
Omie, a Brazilian management platform focused on mid-size companies, said the capital will be used to attract customers, expand distribution channels and offer more financial services such as credit, cash management and collection.
Omie has also announced a partnership with Itaú Unibanco to offer ERP solutions to 1.5 million companies, highlighting how management and financial product companies like Omie are rapidly integrating offerings at a time when innovations like PIX instant payment and open banking are increasing competition and pressure on the banking industry.
Omie was founded in 2013 and now has 950 employees and 70,000 customers. It sells integrated management service and financial products to companies with average revenues of around BRL 10 million per year.
The Foley team was led by partner André Thiollier and associate Ashley Lee.