Kaszek and QED Invest in Colombia-Based Cobre
Gunderson Dettmer represented clients Kaszek and QED in the participation of Cobre’s $13 million equity financing. Cobre, a Colombia-based corporate treasury platform, gives chief financial officers more visibility and control over their company’s financial transactions, specifically, to centralize, digitize and automate their payment processes.
The new capital was led by Kaszek and included participation from QED, Atlantico and Canary and will be used to evolve its product so that it can be adopted by smaller businesses in the region and enter Mexico in 2024.
In the announcement of the transaction, Cobre co-founder Jose Vicente Gedeon said, “We had a very strong first half of the year where we really solidified product-market fit and dramatically improved the health of our unit economics. With those results in hand it seemed like the right moment to try to expand into new customer segments and geographies. Kaszek provided a chance to take advantage of those opportunities, and we believe that with them onboard, we can really make an impact on the market.”
The Gunderson Dettmer deal team was led by Brad Krack and included Daniel Gallo and Marissa Boykin.