Oakberry secures $67M in Series C financing

BTG Pactual Leads Funding Round for Oakberry

The Brazilian investment bank BTG Pactual (BPAC11) has spearheaded a substantial funding round for Oakberry, earmarking a significant step in the company’s expansion plans.

With this infusion of capital, Oakberry aims to intensify its global presence, particularly in the lucrative United States market.

Strategic Utilization of Funds

Oakberry’s primary objective with this funding influx is twofold: to escalate revenue figures to $200 million and to burgeon its operational footprint to 1,000 locations within the upcoming year.

CEO Georgios Frangulis, steering the company since its inception in 2016, foresees exponential growth.

Currently boasting 700 stores across more than 40 nations, Oakberry is poised to surge beyond $200 million in revenue and nearly quadruple its store count globally by 2024.

Diversified Market Ventures and Leadership Impact

The company’s vision extends beyond the United States, contemplating investment collaborations in countries like Australia and Portugal.

The infusion of capital will significantly influence the company’s strategic investment choices and operational expansions in these vital markets.

Moreover, the recent appointments of Bruno Cardinali as Global Head of Marketing and Leandro Gasparin as Head of Business North America have bolstered Oakberry’s global reach.

Leveraging their experiences from prominent restaurant chains like Burger King and Popeyes, Cardinali and Gasparin have already overseen the inauguration of over 150 new stores in 2023 alone.

Future Projections and Expansion Trajectory

Currently operating 35 locations in the U.S., the Oakberry team, in tandem with BTG Pactual, aims to elevate this figure to over 200 stores in the U.S.

Additionally, they plan to triple their European presence by 2026, underscoring their commitment to strategic expansion on a global scale.

Exploring New Markets and Funding Avenues

Oakberry’s strategic approach involves not only strengthening its foothold in the United States but also exploring co-investment prospects in markets like Australia and Portugal.

These endeavors are pivotal in allocating the capital raised during this substantial funding round.

This significant development indicates Oakberry’s aggressive yet calculated strides toward becoming a dominant player in the global market for açaí-based products.