Earlier this year Szekasy and MercadoLibre co-founder Hernan Kazah launched Kaszek Ventures. Today Kaszek Ventures announced an investment in Open English's recent B-1 round. The investment brings the online language school's total capital raised to over $12 million.
Nicolas Szekasy has joined Open English Board of Directors in connection with the investment. Szekasy, is formally the CFO of MercadoLibre, Latin America's largest online commerce and payments platform. During his ten years at MercadoLibre, he successfully led the company's $333 million initial public offering (IPO); its current market value is over $2.5 billion. Throughout his career, Szekasy has closed merger and acquisition deals and issued debt and equity capital exceeding $2 billion. He currently sits on the board of several Internet companies in the region.
"We believe that the Latin American market is ripe for more successful pan-regional plays, and that Open English has all of the elements to be a leader in their sector. They have already achieved very impressive growth," Szekasy said.