Intuit buys cash management startup ZeroPaper to push QuickBooks in Brazil

Harrison Weber for VentureBeat.com writes: This morning Intuit, maker of accounting software, announced it has acquired ZeroPaper, also a maker of accounting software.

The deal gets interesting when you consider ZeroPaper’s origin: Brazil. In a statment, Intuit outlines how it bought itself traction in Brazil: “ZeroPaper’s focus on serving small businesses in Brazil will help accelerate Intuit’s entry into this large market. The transaction helps Intuit establish itself in Brazil, the seventh largest economy in the world with more than 16 million small businesses,” the company said.

As for the reason behind Intuit’s need to expand in Brazil, the company is clearly looking to get in there before it’s too late. Younger international competitors, like FreshBooks, already offer Portuguese-language support, but none appear to have made major moves in the market — yet.