Mendel
- Company typePrivate
- Founded2021
- HeadquartersMexico City, Mexico
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Mendel does
Mendel is a Mexico City-based fintech founded in 2021 (Y Combinator alumnus) that operates an AI-powered, all-in-one SaaS platform for corporate spend management targeted at large Latin American enterprises. The platform consolidates intelligent corporate Visa card issuance, expense management, invoice/CFDI validation against Mexico's SAT, online corporate travel booking (Mendel Viajes), and native integrations with SAP, Oracle, and NetSuite into a single preventive-control system. As of mid-2025, the company serves approximately 500 enterprise customers across Mexico, Argentina, and Chile, with named clients including Mercado Libre, FEMSA, Adecco, McDonald's, PetCo, Telcel, Grupo Pavisa, Merck, and SmilePill.
The platform is built on a microservices architecture and deploys a team of autonomous AI agents (Mendel AI) that perform multimodal receipt/CFDI validation, expense categorization, anomaly detection, travel booking, and financial recommendations using computer vision, NLP, and generative AI. The January 2023 acquisition of TeFacturo added 80 employees and integrated automated billing microservices aligned with Mexico's SAT Billing 4.0 requirements. The platform is SOC 2 Type 2 certified, integrates directly with the SAT for real-time tax deductibility checks, and is listed on the SAP Store marketplace.
Mendel monetizes through a mix of recurring SaaS subscriptions (custom-priced by card count, transaction volume, and approval workflows), interchange revenue from Visa corporate card transactions, and per-booking fees from corporate travel. The company operates through multiple jurisdictional entities — Shlujim, S.A. de C.V. and Financiera CR Capital, S.A.P.I. de C.V., SOFOM, E.N.R. (Mexico), ARAKIM S.A. (Argentina), and Chai SpA (Chile) — and has raised approximately $60M in equity (capped by a $35M Series B led by Base10 Partners in March 2025) plus a $50M debt facility from Victory Park Capital, with reported 2.5x year-over-year ARR growth, gross margins exceeding 75%, and a stated target of profitability by late 2025.
Mendel firmographics
Firmographics- Name
- Mendel
- Legal name
- Shlujim S.A. de C.V. and Financiera CR Capital, SAPI de CV, SOFOM, ENR (operating jointly as "Mendel")
- Website
- https://mendel.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Mendel industry classification
Industry- Product category
- Corporate Spend Management Software
- NAICS
- Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Travel Agencies (561510)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Corporate Cards & Spend Controls (FSAGAJAF)
- akta.pro secondary industries
- Accounts Payable Automation & Invoice Payments for Travel Suppliers (THACAJAI), Payment Reconciliation, ERP/AP Integration & Data Enrichment (Level 2/3, eReceipts) (THACAJAE), Virtual Card Issuance & Tokenized Corporate Cards (THACAJAA), Fraud Prevention, Controls & Compliance (MCC controls, AML/KYC, SCA) (THACAJAG)
Keywords
Where Mendel is headquartered
LocationHeadquarters
- HQ city
- Mexico City
- HQ country
- Mexico
- HQ region
- Latin America
Markets served
Mendel business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS subscription: Recurring SaaS fees from enterprise clients for the spend management, corporate card, and travel platform. Custom-priced based on operation volume, number of cards, and approval workflows.
- Corporate card interchange: Interchange revenue from corporate Visa cards issued through Mendel's platform (Mexico, Argentina, with plans for Chile, Peru, Colombia, Brazil).
- Travel per-booking fees: Per-booking fees generated through Mendel Viajes corporate travel bookings (flights, hotels, car rentals).
- Partner referral revenue share (inbound): Mendel pays out 100% of the first month's SaaS fee as revenue share to Referral Partners for closed deals; this is a cost line, but signals the SaaS-fee-based commercial model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Quote-based, not publicly disclosed |
Go-to-market motion3 records
Mendel product offering
Product offeringCore offering
Mendel operates an AI-powered SaaS platform that consolidates corporate cards, expense management, CFDI/SAT invoice validation, corporate travel booking, and ERP reconciliation into a single preventive-control system for Latin American enterprises. Customers receive intelligent Visa corporate cards with predefined spending rules, real-time visibility, automated receipt validation by AI agents, and native integration with SAP, Oracle and NetSuite.
Product overview
Mendel operates a unified all-in-one SaaS platform that consolidates corporate cards, expense management, travel booking, AI-powered financial automation, and ERP integration into a single product. The core offering is the Mendel Platform, which operates under a preventive-control model: customers are issued intelligent Visa corporate credit cards (Tarjetas Mendel) with predefined rules for "when, how, and where" employees can spend. Around this core, Mendel offers a portfolio of modules: Gestión de Gastos (Expense Management), Reportes de Gastos (Expense Reports), Presupuestos (Budgets), Políticas y Cumplimiento (Policies & Compliance), Recuperación de Facturas (Invoice Recovery, which scans receipts via computer vision and validates CFDI against SAT), Reembolsos (Reimbursements), Gastos por Categoría (Spend by Category), Tarjetas Corporativas (existing-corporate-card integration), and the Mendel Fleet Card (Tarjeta Mendel Flotilla). Add-on offerings include Mendel Viajes (corporate travel module with online booking tool and AI-powered virtual assistance), Mendel AI (a team of autonomous AI agents for finance teams), Beneficios Mendel (employee benefits), and native Integración con tu ERP (ERP integration with SAP, Oracle, NetSuite). The platform was extended in 2025 to include the Mendel Corporate Credit Cards offering in Argentina (powered by Pomelo) and incorporates TeFacturo's automated billing technology acquired in January 2023. Mendel also runs a Mendel Partner Program with three tiers (Strategic Collaborations, Business Partners, Referral Partners) and operates regional entities in Mexico (Shlujim / Financiera CR Capital), Chile (Chai SpA), and Argentina (ARAKIM S.A.).
Differentiator
Problem solved
Functional benefit
Brands
- Mendel Viajes: Corporate travel management module (Online Booking Tool) integrated within the Mendel platform for booking and managing business trips.
- Mendel AI
- Tarjetas Mendel (Mendel Cards)
Products and services
- Mendel Platform (All-in-One Corporate Expense & Travel Management Platform) Core all-in-one SaaS platform that consolidates intelligent corporate Visa cards, expense management, expense reports, budgets, corporate travel, AI agents, ERP integration and policy compliance in a single unified system with real-time CFDI/SAT invoice validation for Latin American enterprises.
- Tarjetas Mendel (Mendel Corporate Cards) Intelligent corporate Visa debit and credit cards with predefined spending rules, real-time visibility and instant enable/disable controls, including the Mendel Fleet Card for corporate fleet expense management.
- Mendel AI Suite of autonomous AI agents for finance teams that validate CFDI receipts against SAT, detect expense inconsistencies, generate financial recommendations and run an AI-powered virtual assistant for corporate travel.
- Mendel Viajes (Online Booking Tool for Corporate Travel) Corporate travel module offering online booking of flights, accommodation, vehicle rental and insurance with AI-powered virtual assistance, tailored to LATAM regulatory complexity.
- Mendel Fleet Card (Tarjeta Mendel Flotilla) Smart technology solution for managing corporate fleet expenses and vehicle-related spend with intelligent controls and SAT-compliant invoice recovery.
- Mendel Corporate Credit Cards (Argentina, powered by Pomelo) Argentina-market corporate credit card offering powered by Pomelo's BIN sponsorship, virtual and physical card issuance and tax compliance API, with real-time transaction controls and budget management.
- TeFacturo (acquired automated billing technology) Automated billing technology acquired in January 2023 and integrated into the Mendel platform, using AI and microservices to improve speed and accuracy of invoice and expense verification aligned with SAT Billing 4.0.
- Mendel + Visa Corporate Travel Platform with AI Co-branded corporate travel platform launched with Visa that extends Mendel Viajes with AI-powered booking, travel and expense capabilities for enterprises.
- Mendel Partner Program Structured partner ecosystem with three tiers — Strategic Collaborations, Business Partners (implementation/integration) and Referral Partners (revenue share) — providing pipeline visibility, sales materials, training and revenue-share commissions on closed deals.
Companies that use Mendel
Customer profileIdeal customer profiles2 records
Mendel technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability13 records
Feature7 records
Mendel partnerships and signals
Strategic signalRecent moves9 records
Expansion highlights7 records
Mendel competitors and assessment
Company assessmentDirect peers
- Ramp: US-based corporate card and spend management platform focused on automation and cost savings. Directly competes with Mendel's core card-plus-expense wedge and has begun expanding internationally, posing a threat in the enterprise mid-market segment.
- Spendesk: European spend management platform with prepaid cards, expense reporting, and accounts payable automation. Direct peer offering a comparable product bundle for mid-market and enterprise customers across multiple geographies.
- Brex: US-headquartered spend management platform combining corporate cards, expense management, bill pay, and travel for startups and enterprises. Direct competitor to Mendel globally, with increasing focus on international expansion that could overlap with Mendel's LATAM stronghold.
- Payhawk: European-headquartered spend management platform offering corporate cards, expense management, accounts payable, and multi-entity consolidation. Direct peer with similar enterprise sales-led GTM and global expansion ambitions overlapping Mendel's target market.
- Clara: Mexico- and LATAM-focused corporate card and spend management company. Most direct regional competitor to Mendel, targeting similar Mexican enterprises with comparable card-plus-expense positioning.
- Airbase: US-based spend management platform unifying bill pay, corporate cards, expense management, and procurement. Closely comparable to Mendel's all-in-one enterprise positioning and competes for the same multinational enterprise customers.
Broad incumbents
- SAP Concur: Incumbent enterprise travel and expense management solution from SAP, with deep ERP integration. Represents the legacy incumbent that Mendel displaces; broader suite but weaker LATAM localization and AI-driven preventive controls.
- Emburse: Enterprise expense management and AP automation suite including Emburse Captura, Chrome River, and Certify. Established incumbent competing for the same large-enterprise expense segment that Mendel targets, with broader portfolio but less AI-native architecture.
Regional players
- Jeeves: LATAM-focused fintech providing corporate cards and cross-border banking for businesses, with strong presence in Mexico, Colombia, and Brazil. Regional peer offering overlapping corporate card functionality but without Mendel's integrated expense and travel stack.
- Tribal Credit: LATAM-focused B2B fintech offering corporate cards and spend management to SMBs and enterprises, with presence in Mexico, Colombia, Brazil, and Chile. Comparable regional peer targeting cross-border spend and emerging-market corporate finance needs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Mendel social profiles
Digital presenceMendel compliance and trust
Trust signalCompliance5 records
Mendel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mendel leadership team
Management profileNumber of profiles
Profiles6 records
Mendel subsidiaries and ownership
Company hierarchySubsidiaries1 record
Mendel funding detail
Funding detailFunding overview
Funding rounds6 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mendel M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mendel
What does Mendel do?
Mendel operates an AI-powered SaaS platform that consolidates corporate cards, expense management, CFDI/SAT invoice validation, corporate travel booking, and ERP reconciliation into a single preventive-control system for Latin American enterprises. Customers receive intelligent Visa corporate cards with predefined spending rules, real-time visibility, automated receipt validation by AI agents, and native integration with SAP, Oracle and NetSuite.
Is Mendel a public or private company?
Mendel is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mendel founded?
Mendel was founded in 2021. It employs 51 to 100 people.
Where is Mendel based?
Mendel is headquartered in Mexico City, Mexico, in the Latin America region.
How does Mendel make money?
Four revenue lines are on record. SaaS subscription is the primary driver. The others are corporate card interchange, travel per-booking fees and partner referral revenue share (inbound).
Who are Mendel's main competitors?
Direct peers on record are Ramp, Spendesk, Brex, Payhawk, Clara and Airbase. Broad incumbents are SAP Concur and Emburse. Regional players are Jeeves and Tribal Credit.
Does Mendel have an API?
No public API is recorded for Mendel.
What industry is Mendel in?
Mendel's product category is Corporate Spend Management Software. Its primary akta.pro industry code is FSAGAJAF, Corporate Cards & Spend Controls, with a secondary code of THACAJAI, Accounts Payable Automation & Invoice Payments for Travel Suppliers. Its NAICS code is 522210 and its SIC code is 6141.