Brazil BPO BHub raises US$20 million for expansion
Business Process Outsourcing (BPO) start-up BHub raised US$20 million for its planned expansion in the Latin American region which is pegged to grow its existing client portfolio of 130 to over 2,000 by year-end.
The Brazil-based firm offers their clients solutions in non-core business functions — such as customer service, legal, human resource management, and bookkeeping — helping them to prioritize their core tasks.
BHub’s service is similar to that of a US startup Pilot, which is backed by Jeff Bezo, American entrepreneur, media proprietor, investor and computer engineer, who founded Amazon.
In an interview with TechCrunch, BHub Founder Jorge Vargas Neto said that he observed the demand for back-office services when he sold his previous company Zen Finance in 2020.
He noted that his accountants “messed up the books”, resulting in two weeks of hard work to fix the errors. The experience, he explained, is how he ended up launching a startup to provide back-office services.
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