Nicolás Giménez, co-founder of Argentine startup Fidu, has convinced more than 1,000 schools across the region to place their operations in the company’s hands.
The company seeks to provide a solution for them to digitally manage everything from finances to school announcements. The company also managed to raise $5 million from Lightspeed Venture Partners, NFX, Imaginable Futures and Broom Ventures.
As well as raising capital from regional founders, including Rappi’s Felipe Villamarín and Andrés Bilbao, Auth0’s Matias Woloski, Despegar’s Roby Souviron, and Frubana’s Fabián Gómez.
How fidu works
According to the company, directors and educators need to manage collections, suppliers, payments, communication and educational management, among other tasks. Consequently, they end up devoting 70% of their time to operational tasks and solving emergencies, which takes them away from what really matters: educating. For this reason Fidu was born.
The startup works with school directors and administrators to create and implement its comprehensive management platform that is tailored to each institution and automates the main operational processes, such as collections, cost management, communication, and educational management. In addition, it offers a fully customizable mobile application so that families can interact quickly and easily.
Nicolás Giménez, CEO and co-founder of Fidu, expressed the satisfaction of the co-founders for the new round of investment and assures that they will invest in growing their presence throughout Latin America.
“This injection of capital will further our mission of empowering educators in the region with quality digital solutions and financial services for their educational communities.” she expressed.
Mexico has an important role in the brand’s business strategy, since it is the market where they project the greatest growth in the next two years. For this reason, the company will establish an operations center in Mexico City in order to consolidate its work team and provide closer and more personal attention to its clients in the country.
“We have decided to base our headquarters for the region in Mexico City. We see great talent and potential in Mexican educators and we are excited to work with them to continue improving education in the country,” said Giménez.
