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Mendel Raises USD $60M to Consolidate Their Presence in Mexico

Mendel is a B2B corporate spend management startup that offers companies the necessary tools to create their own financial management rules through an expense control platform and a smart VISA credit card. Mendel seeks to make corporate expense reporting more agile, thereby saving the organization time and money.

They recently announced a new equity and debt financing round for USD $60M led by Victory Park Capital, with the participation of ALLVP, Better Tomorrow Ventures, Industry Ventures and Infinity Ventures. Mario Ruiz, co-founder and Partner at Infinity Ventures said:

“Mendel is building the best-in-class software and financial stack for large enterprises in LATAM. In a market ripe for adoption, Mendel is leading the way in building cutting-edge technology for CFO teams.”

The company plans to use its new capital to invest in growth and accelerate the development of its corporate spend management platform in Mexico.