Carey Olsen advises Take Blip as Warburg Pincus invests US$100 million
Lawyers from Carey Olsen's corporate team in the Cayman Islands have advised Take Blip on a US$100 million investment in the Brazilian communication platform by US private equity firm Warburg Pincus LLC.
Take Blip, an application programming interface (API) platform, helps companies engage with clients through messaging apps such as WhatsApp and Facebook Messenger. It currently serves more than 750 clients, including industry leaders in Brazil such as Claro, Itaú Unibanco, Coca-Cola, Localiza, Fiat and TruckPad.
Supporting Brazilian law firm Ulhoa Canto, the Carey Olsen team comprised partner Alistair Russell and associate Jenna Willis and advised Take Blip on the establishment of the Cayman structure and the financing arrangements with Warburg Pincus.
Alistair said: "Take Blip is an extremely innovative and entrepreneurial business and its ability to secure such a substantial Series A financing round further underlines its exciting trajectory. We were delighted to assist them on this transaction which again emphasises the popularity of the Cayman Islands as a jurisdiction in this space."
Founded in 1999, Take Blip expects to post revenues of US$40 million in 2020, having grown five-fold in the past two years. It plans to use the Warburg Pincus proceeds to expand its operations to the United States, Europe and Mexico as well as investing in its current business.
