ClickOn, one of the leading group buying sites in Brazil, closed a round of financing with Mosaico, an Organizacoes Globo company focused on investing in Internet businesses. With the deal, Mosaico now acquires 40% of ClickOn. The group-buying market in Brazil should exceed US$ 700 million in sales in 2011 and continues to be the fastest growing business model in the Brazilian Internet landscape, said ClickOn.

Guilherme Pacheco, CEO at Mosaico, noted that the group-buying model changed the way consumers interact with local services around the world. Pacheco reiterated that this new business model has attracted new consumers and companies to do business online, changing the landscape and growth possibilities for e-commerce in the region.

According to Pacheco, the entrepreneurs at ClickOn did an incredible job building one of the biggest Brazilian group-buying sites and standing out amidst thousands of companies that entered this market. Pacheco said the team executed the model brilliantly highlighting high-quality offers, great attention to the consumer and a sustainable relationship with their partners.

ClickOn, which celebrates one year of operations this May, is the fourth investment by Mosaico, which has already invested in the travel site Mundi, the game developer Gazeus and the price comparison site Zoom, which will be officially launched in the second semester.

Mosaico will leverage the synergies with the other Mosaico companies and the largest media group in Brazil, Organizacoes Globo. These partnerships will give ClickOn strong competitive advantages increasing traffic and sales, stated Pacheco.

Marcelo Macedo, CEO at ClickOn, said Mosaico joins ClickOn as it marks its first birthday with more than 7 million users, 5 thousand plus offers and more than 1.5 million coupons sold. The new investment will help accelerate ClickOn’s aggressive expansion plans, said Macedo.

With Mosaico’s support and their vast experience in the Internet space, ClickOn will aim for a national leadership position, said Macedo.

ClickOn is one of the leading group-buying sites in Brazil offering daily deals in more than 42 cities with up to 90% discount. The offers vary in nature including several business segments such as wellness, food and beverage, tourism, entertainment, etc. The company was launched in May 2010 and currently has a team of more than 300 employees.

Mosaico is a Brazilian multi-stage investment firm providing capital and strategic support for internet companies from early to late stage.