Brazilian-founded Acai brand Oakberry is planning to expand its store network across many markets, including Australia, after raising $100 million (US$67 million) in Series C funding.

The round was raised through funds managed by the Brazilian investment bank BTG Pactual – the largest investment bank in Latin America.

The company said the funding will help accelerate its global expansion strategy, targeting more than $300 million in revenue and nearly 1000 stores worldwide by the end of this year.

The brand is now exploring co-investment opportunities in Australia and Portugal as additional priority markets for funding allocations.

Founded in 2016, Oakberry currently has approximately 700 stores across more than 40 countries. 

The brand announced in October it was set to open seven new stores in Australia, bringing its store count to 45 across NSW, QLD, WA, VIC, and SA.