Fidu offers a new operating system for Latin American schools, so that institutions can digitally manage their day to day operations; from finances to schoolwide announcements.
Most Latin American schools work with paper, WhatsApp groups and e-mail, rather inefficient, in todays day and age. That's why Fidu solves the two main problems for educational institutions: operational management and revenue collection.
School directors spend 75% of their time on operational tasks - sending invoices to families and solving communications - and not on tasks related to education, detected Giménez, who has training in finance and business, and who dedicated the early years of his career as a teacher in Buenos Aires and in the educational sector in the design of different technological projects.
And on the other hand, he identified that schools also had to improve their financial management to make their financial resources more efficient. "In general, schools have monthly collection levels of 70% of the entire student workforce," says Giménez.
School administrators can use Fidu’s app to send tuition and pay slips to parents, and then tuition is paid by the recipients via phone. The startup is also building technology that lets it better “know the customers of the school,” so that it’s easier to understand how stable the school’s revenue is. Once it has a better understanding of that data, it seeks to offer guaranteed revenue financing to schools. Fidu’s revenue-financing products are currently being piloted in Mexico City and Bogota.
Fidu also built a custom app for schools to communicate with families, cementing its approach to being a full-stack option.
The Latin American Edtech startup founded by Caterina Carreño, Nicolas Giménez, and Ariel Manduca raised USD $5M in October of 2022. Read the article here.