Chilean startup Buk has raised $35M in a funding round led by Base10 Partners, with participation from other investors including Greenoaks and SoftBank Latin America.
This is the second round of financing for the Chilean company Buk, after its US$50 million Series A in October 2021, to which Greenoaks and SoftBank Latin America also contributed.
Buk offers HR software and payroll management solutions to small and medium-sized businesses in Latin America, with a mission to create happier workplaces and streamline HR operations throughout the region.
As for the US$35 million raised, the CEO of the company, Jaime Arrieta, said that they still have resources from their Series A round and that Buk has always aimed at profitability and organic growth.
“As a company, we didn’t need as much capital to execute our long-term growth plans. Also, although the funding round was oversubscribed by other investors, we decided to partner with Base10, given the experience they can bring to Buk’s current growth phase,” the CEO explained.
Jaime Arrieta also explained that “ given the current market conditions, we are very pleased to have achieved a valuation significantly higher than that of our last round. This validates our mission to create value for our customers by building happier workplaces and is the result of our continued progress. This financing is also positive news for the entire Latin American startup ecosystem, as it is proof of the permanent interest of investors in companies with solid business fundamentals.”
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