Mendel

About

Based in Mexico City, Mexico, and founded in 2021 by co-founder and CEO Alan Karpovsky, Financiera CR Capital, S.A.P.I. de C.V., SOFOM E.N.R., d.b.a. Mendel is a B2B (business to business) corporate spend management company that provides businesses the necessary tools to create their financial management rules through an expense control platform and a smart VISA credit card. In November 2022, Financiera CR Capital raised an undisclosed amount of venture debt funding. In March 2025, Mendel raised USD 35 million in series B funding led by new investor Base10 Partners, with participation from other new investors Endeavor Catalyst and PayPal Ventures. Returning investors Industry Ventures and Infinity Venture also participated in the round. The company’s product line includes corporate cards, expense platform, budget control, CFDI (Comprobante Fiscal Digital por Internet) recovery, and ERP integration tools. Mendel offers smart and unlimited visa corporate cards, both physical as well as virtual for businesses to pay their expenses. The firm’s expense platform is a business software suite that centralizes all financial, accounting, and administrative movements in a single place, and provides automated travel expense and operations processes. The budget control tool allows businesses to create and assign budgets based on their expenses and per diem policies. In addition, Mendel offers a CFDI recovery tool that automates invoice recovery for all business expenses. The company plans to use its proceeds from March 2025 funding to expand its financial service management platform.