YC alum Mendel, a ‘Ramp for LatAm enterprises,’ raises $35M Series B

Mexico City-based Mendel has raised $35 million in a Series B round of funding, it tells TechCrunch exclusively. Corporate spend management platform Mendel last raised in December 2021 — a $15 million Series A round and $20 million in debt — after participating in Y Combinator’s Winter 2021 cohort. With this latest capital infusion, the startup has brought in a total of $60 million in equity funding and $50 million via a credit facility. Mendel’s mission is straightforward: to reinvent corporate spend management by automating most of the operations for an enterprise CFO that are currently done manually. Or put even more simply, it wants to be a one-stop shop for all B2B spend. Its offering integrates expense management, payments, and corporate travel. “Our goal is to give CFOs and finance teams in Latin America real-time visibility and control over their spend — be it employee expenses, vendor payments, or business travel bookings,” said co-CEO and co-founder Alan Karpovsky. Karpov ... Read full article.