Carey advises Zapping in crowdfunding investment round

Carey has advised Zapping, a Chilean startup that provides multi-streaming services to users in Latin America, in its crowdfunding investment round through the Chilean platform Broota.

This transaction, closed on October 7, had an approximate amount of USD $1,850,000 and involved the Chilean and US (Delaware) jurisdictions. Next Legal advised Zapping in the US.

This crowdfunding round achieved an oversubscription of 31% (i.e. it exceeded by 31% the fundraising goal initially considered by the start-up), and is the largest crowdfunding round raised in the history of the Chilean industry.

Cecilia Morandé acted as in-house counsel to Zapping; while Rodrigo Bustamante and Sebastián Donoso provided in-house counsel to Broota.

Next Legal’s team included partner Sofía Yague and associate Rodrigo Zaldívar.

Carey’s team was led by partner Francisco Guzmán (pictured), together with associate Carlos Alcalde.