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Mendel raises $35M in Series B funding led by Base10 Partners. The funds will be used to accelerate technology development, geographic expansion, and talent acquisition.

Mar 27, 2025•4 months ago

Amount Raised

$35 Million

Round Type

series b

Mexico CitySoftware

Investors

Endeavor CatalystHi.VcIndustry VenturesInfinity VenturesPay Pal VenturesBase10 Partners

Description

Mendel, a Mexico City-based provider of an enterprise spend management platform, raised $35M in Series B funding. The round was led by Base10 Partners with participation from PayPal Ventures, and existing investors Infinity Ventures, Industry Ventures, Hi.vc, and Endeavor Catalyst. The company intends to use the funds to accelerate technology and AI development, geographic expansion, and talent acquisition. Mendel helps finance teams control budgets in real time.

Company Information

Company

Mendel

Location

Mexico City, Distrito Federal, Mexico

About

Mendel is the premier platform for managing enterprise spend in Latin America. By seamlessly integrating expense management, payments, and corporate travel, Mendel empowers finance teams to control budgets in real time. From setting rules to tracking expenses and travel bookings, Mendel provides a centralized, intuitive platform tailored to LATAM’s unique complexities. Trusted by leading enterprises like Mercado Libre, McDonald’s, and FEMSA, Mendel reduces costs, ensures compliance, and delivers actionable insights to transform how businesses operate.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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