News Summary

Mexico City-based startup Mendel has successfully raised $35 million in a Series B funding round, aimed at enhancing its corporate spend management platform tailored for Latin American enterprises. The startup, which previously participated in Y Combinator’s Winter 2021 cohort, focuses on automating operations for CFOs, integrating expense management, payments, and corporate travel solutions. With a total equity funding of $60 million and an additional $50 million via a credit facility, Mendel aims to provide CFOs real-time visibility and control over their spend. The Series B round was led by Base10 Partners, with participation from PayPal Ventures, Endeavor Catalyst, and others. Mendel plans to expand its operations across Latin America, entering new markets like Chile, Colombia, Peru, and Brazil by 2026.