In less than a year of operation, Mendel raises $ 35 million

In order to consolidate its business financial management model, the firm Mendel announced a capital raise of $ 35 million, in a investment round Series A, in which the funds participated ALLVP e Infinity Ventures, which was founded by three former PayPal executives, Jeremy Jonker, Jay Ganatra and Mario Ruiz.

The firm announced that these resources will be used to boost its growth in Mexico, in order to consolidate itself as the management platform for CFOs. (CFO) of large companies in Mexico, through digital tools and solutions for a more precise control of expenses of organizations.

“A world of companies that are more agile, efficient and based on the simplification of processes based on technology, will only be possible with the help of platforms like the one we offer at Mendel,” he said. Alexander Zecler, founder and co-director general of the firm, and who pointed out that this survey is carried out in less than a year of operation of the organization.

According to the firm, this investment round had the participation of Better Tomorrow Ventures, which led the company’s seed round, as well as other angel investors such as Thejo Kote (Airbase), Matías Woloski (Auth0), Pedro Arnt ( Mercado Libre), Miguel Santos (Technisys), Sujay Tyle (Merama), Rodrigo Teijeiro (RecargaPay), Federico Ranero (Kavak), Julio Rojas Sarmiento, Keri Gohman (Bain Capital), Murillo Tavares (Spencer Stuart & submarino.com).

“When we look at all the different areas of any company, the CFO role is clearly the one that has seen the least innovation … CFOs still rely primarily on spreadsheets and ERP,” he noted. Alan Karpovsky, founder and co-CEO of the company, which was incubated and accelerated by Y Combinator in its early days.

For Mendel, there is currently an interest from investors to promote the growth of business management platforms within companies that need to digitize to remain competitive.

“Mendel noticeably improves daily business spending and money management for businesses; whether they need to obtain a software license, book a business trip or pay vendors, “said Helena Polyblank, founder and chief product officer of the firm.