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Vostu raises $30 million to invest in Brazilian market

Tue 30 Nov 2010 8:44am GMT / 3:44am EST / 12:44am PST
Emerging MarketsGamesOnline

Social gaming company looking to expand user base of 20 million

Vostu, a New York based company focused on serving the Brazilian social games market, has raised $30m in funding from Accel Partners and Tiger Global Management.

Vostu is one of two American companies vying for control of the promising Brazilian sector of social gaming, with Miami based rival Mentez raising a large but undisclosed fund from Insight Partners in August this year.

VentureBeat reports that Vostu CEO Daniel Kafie has his eyes set firmly on the prize of the potentially massive South American social market, where Google's Orkut is the social network of choice with 50m users.

Twenty million of those users are regular players of Vostu titles, including the Farmville-esque Mini Fazenda.

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