Mendel

Mendel is a B2B corporate spend management platform founded in 2021 by Argentine entrepreneurs Alan Karpovsky, Alejandro Zecler, Helena Polyblank, and Gonzalo Castiglione. Based in Mexico City, the company provides large enterprises across Latin America with comprehensive financial management solutions designed to digitize and automate corporate spending operations. Mendel's platform allows finance teams to issue unlimited virtual and physical corporate cards with granular spending controls, providing real-time visibility over employee expenses, vendor payments, and business travel bookings. The company targets large enterprises rather than SMBs, serving clients including Mercado Libre, FEMSA, McDonald's, Adecco, and Kavak. Mendel offers credit lines to finance business operations, automated expense tracking, budgeting features, invoice management, and real-time reporting dashboards. The platform integrates payments, expense management, and corporate travel into a single ecosystem, addressing the complex regulatory and tax requirements specific to the Latin American market. Mendel generates revenue through a combination of SaaS subscription fees, interchange fees from card transactions, and take rates from its bill pay product, with SaaS fees accounting for over 50% of revenue. The company participated in Y Combinator's Winter 2021 cohort and has raised over $130 million in combined equity and debt financing from investors including Base10 Partners, PayPal Ventures, Infinity Ventures, Industry Ventures, ALLVP, and Endeavor Catalyst. Currently operating in Mexico and Argentina with approximately 500 customers and 80 employees, Mendel achieved cash-flow positive status in December 2024 and plans geographic expansion into Chile, Colombia, Peru, and Brazil through 2026.