Startup Mendel raises 60 million dollars to grow in Mexico

Alejandro Zecler, co-founder of the startup, told Expansión that 10 million dollars will be allocated to the growth of talent within the firm. The resources come from three funds: Industry Ventures , Infinity Ventures Y Victory Park Capital .

Mendel is a firm that helps companies manage corporate expenses and billing while offering corporate credit cards through Visa.

“The investment has two fronts: to continue strengthening the value proposition of our clients, to continue hiring the best talent to have the best market solution”, said the co-founder of Mendel.

The startup has 300 companies in its portfolio and is expected to more than double growth in the coming year. They even hope that by 2024 they can expand to countries like Brazil and Colombia.

Despite the fact that the economic perspectives indicate that there will be a slowdown in the Mexican economy in 2023, Mendel estimates that thanks to this round of financing it will be able to provide them next year.