New Zealand’s Xero raises $49m from Valar, Matrix
New Zealand-based online accounting software company Xero has raised NZ$60 million ($49 million) in new capital from US VC firms Valar Ventures and Matrix Capital Management. Valar is backed by Peter Thiel, best known for his early investments in PayPal and Facebook.
The VC firms also purchased stock worth NZ$22 million from Xero's three largest shareholders, taking their total commitment to NZ$82 million. Matrix put in NZ$58 million with Valar contributing the remainder....
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