Oakberry Funding, Investors & Competitors

Oakberry has raised $102M across 3 funding rounds, most recently a $20M undisclosed-stage round in May 2024.

Last Oakberry funding round

$20M

Undisclosed stage · May 2024

Cumulative funding Oakberry raised

$102M

across 3 funding rounds

Key investors in Oakberry

Oakberry Overview

About Oakberry

Oakberry is a Brazilian food-service and consumer-products company founded in São Paulo in 2016. The group operates and franchises quick-service stores built around açaí bowls, smoothies and related toppings and packaged products. It sources and processes açaí in Brazil and supplies standardized product to stores and franchise partners across its international network. Revenue comes from company-owned store sales, franchise and master-franchise fees, royalties, packaged-goods licensing and product supply. Oakberry expanded internationally through a mix of franchise partners, corporate stores and regional operating subsidiaries. Its audited 2025 financial statements reported 982 units, including 373 in Brazil and 609 across other markets in the Americas, Europe, Asia, Africa and Oceania. The company also used acquisitions to bring selected master-franchise territories and stores under direct control after Banco BTG Pactual's December 2023 investment.


Founded

2015

HQ

BrazilSão Paulo

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Oakberry Funding History

Oakberry has raised a total of $102M across 3 funding rounds.

Oakberry's first fundraising round was a $16M undisclosed-stage round in January 2021. The most recent completed round was a $20M undisclosed-stage round in May 2024.

Oakberry funding rounds

Oakberry funding rounds
DateStageInvestorsRaisedDeal Summary
May 2024Undisclosed stageMoriah Asset (lead)$20MOakberry is a Brazil-based açaí franchisor founded in 2016, operating over 750 locations in Brazil and 50 other countries, with a focus on customizable açaí bowls and smoothies sourced sustainably from the Amazon. The company specializes in the health and wellness segment, emphasizing global expansion particularly in the U.S. and Europe. On May 22, 2024, Moriah Asset invested BRL 100 million (approximately USD 19.6-20.51 million) in Oakberry as an extension to the prior BTG Pactual round, classified as an unattributed or private placement round. The funds are designated for reacquiring franchises to enhance operational efficiency and product uniformity, as well as accelerating international growth and market penetration, including plans for over 200 U.S. stores by 2026. This follows a Series C round in December 2023 where BTG Pactual invested BRL 325 million (USD 67 million) to support U.S. expansion and open 300 new stores by end-2024. Oakberry's total funding raised across rounds exceeds $100 million. Financial traction includes 2024 revenue of $200 million, reflecting strong growth amid rapid store openings—over 150 new locations in 2023 alone. The investment by Moriah Asset, led by Fabiano Zettel, underscores confidence in Oakberry's positioning in the wellness sector, with the firm's portfolio valued at R$1.8 billion.
Dec 2023Series CBanco BTG Pactual (lead)$66M-
Jan 2021Undisclosed stageKilima Asset (lead)$16MOakberry, a Brazilian açaí bowl brand founded in 2016, raised approximately $16.67-17.3 million in a private funding round in January 2021 from Kilima Asset and Monte Bravo to invest in vertical operations and initial growth. The funds supported the company's international expansion efforts in the food and beverage sector. Kilima Asset, an asset manager focused on promising companies including in food and beverage, led the investment. This marked Oakberry's first private round, preceding later financings such as a $10.3 million green Agribusiness Receivables Certificate in 2022 and a Series C of $67 million (325 million BRL) in December 2023 led by BTG Pactual for U.S. and global expansion to over 1,000 stores. By 2023-2024, Oakberry operated 700 stores in more than 40 countries with aims to exceed $200 million in revenue and open 300 new U.S. stores by end-2024.

Who has invested in Oakberry?

3 investors have backed Oakberry across its funding rounds, including Banco BTG Pactual, Moriah Asset and Kilima Asset.

Lead investors include Moriah Asset, Banco BTG Pactual and Kilima Asset.


Oakberry Investors

Investors in Oakberry by funding rounds participated
InvestorHQRoundsRoleFirst check
Kilima AssetBrazilSão Paulo1LeadJan 2021

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Acquisitions by Oakberry

Oakberry has acquired 3 companies to date.

Last acquisition by Oakberry was on June 1st 2025. Oakberry acquired Ondas Suculentas for $47K.


Latest Acquisitions by Oakberry

Ondas Suculentas
Castro e Vaz
Papagaio Trovador
Description
Ondas Suculentas is a Portuguese food-service company that operated an Oakberry-branded outlet in Paço de Arcos. The store sold made-to-order açaí bowls, smoothies, toppings and related products to local consumers through the Oakberry quick-service format. Its operating assets included the commercial point, store equipment, local employees, working-capital items and the rights needed to trade from the location. The company participated in Oakberry's Portuguese franchise network before being acquired by the brand owner's Southern Europe subsidiary. Revenue came primarily from direct sales of food and beverages at the store. Oakberry purchased the legal entity in a share deal and assumed its assets and liabilities. The transaction brought the Paço de Arcos unit under direct group control and allowed common procurement, operating standards and store-level performance management with Oakberry's other Portuguese corporate locations.
Castro e Vaz is a Portuguese food-service company that operated Oakberry-branded stores in Lisbon. At the time of acquisition, its portfolio comprised three locations in Restelo, Colombo and Rato. The stores sold açaí bowls, smoothies and related toppings and beverages directly to consumers under the Oakberry format. Their operations included leased commercial points, staff, store equipment, local customer relationships and the day-to-day systems needed to run quick-service outlets. The company generated revenue from retail product sales rather than from the wider brand's master-franchise royalties. Oakberry acquired Castro e Vaz through its Southern Europe subsidiary as a share deal, taking over the operating company and the economic rights attached to the three locations. The acquisition converted franchised or locally operated units into stores controlled within Oakberry's regional corporate structure.
Papagaio Trovador is a Portuguese master-franchise company formed in 2019 and based in Lisbon. Before its acquisition, the company held the master-franchise rights for the Oakberry brand across Portugal. It managed the economic and operational rights needed to develop the national network, appoint and support franchisees and collect brand-related fees. The business connected Oakberry's Brazilian brand owner with local store operators and therefore served commercial partners as well as consumers reached through the restaurant network. Its revenue model was based principally on licensing and services associated with territorial franchise development. Oakberry acquired the company through its Southern Europe joint venture and subsequently renamed it Oakberry Açaí Master Portugal. The acquired company became the legal and operating vehicle through which Oakberry directly controls expansion, standardization and franchise management in Portugal.
HQ CountryPortugalPortugalPortugal
HQ City
Paço de Arcos
Lisbon
Lisbon
Deal Date1 Jun 20251 May 20251 Jan 2025
Valuation$47K$1Mundisclosed
EV/Revenue
EV/EBITDA

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Oakberry Competitors

Oakberry competitors include listed companies like McDonald's, Starbucks, Compass Group and Chipotle, and private ones like HeyTea and Koubei.

Public and private companies comparable to Oakberry
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
McDonald'sUnited StatesUnited StatesPublicly listed$27B$15B$195B9.0x
StarbucksUnited StatesUnited StatesPublicly listed$37B$4.7B$120B3.7x
Compass GroupUnited KingdomUnited KingdomPublicly listed$46B$4B$57B1.3x
ChipotleUnited StatesUnited StatesPublicly listed$12B$2.3B$44B3.8x
HeyTeaChinaShenzhenPrivate$58M-$9B-
KoubeiChinaHangzhouPrivate--$8B-

Oakberry Public Comps

Oakberry is still privately-owned, but its public comps include McDonald's, Starbucks, Compass Group, Chipotle, Yum Brands, Restaurant Brands International, Darden Restaurants, Restaurant Brands International LP, Yum China and Indian Hotels.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
McDonald's$27B$15B9.2x9.0x17.0x16.0x
Starbucks$37B$4.7B3.7x3.7x29.5x22.9x
Compass Group$46B$4B1.4x1.3x16.3x12.5x
Chipotle$12B$2.3B4.0x3.8x21.0x21.6x
Yum Brands$8.2B$2.8B6.4x6.1x18.6x17.9x
Restaurant Brands International$9.4B$2.5B4.6x4.5x17.7x14.2x
Darden Restaurants$13B$2.1B2.4x2.4x14.9x14.6x
Restaurant Brands International LP$9.4B$2.5B4.2x-16.2x-

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Common questions about Oakberry

When was Oakberry founded?Oakberry was founded in 2015.
Where is Oakberry headquartered?Oakberry is headquartered in São Paulo, Brazil.
Is Oakberry publicly listed?No, Oakberry is a private, VC-backed company.
How much funding has Oakberry raised?Oakberry has raised $102M across 3 funding rounds.
What was Oakberry's last funding round?Oakberry's last funding round was a $20M undisclosed-stage round in May 2024, led by Moriah Asset.
Who are Oakberry's investors?Oakberry's investors include Kilima Asset, Moriah Asset and Banco BTG Pactual.
Which companies are comparable to Oakberry?Companies comparable to Oakberry include McDonald's, Starbucks, Compass Group, Chipotle, HeyTea and Koubei.
How many companies has Oakberry acquired?Oakberry has acquired 3 companies, including Ondas Suculentas, Castro e Vaz and Papagaio Trovador.
What was the largest acquisition by Oakberry?The $1M acquisition of Castro e Vaz in May 2025 is the largest acquisition Oakberry has made to date.

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