Cometa, a Mexican fintech platform helping private schools in Latin America optimize financial operations, raised a $12M Series A round led by Reach Capital. Acrew Capital, Kaszek Ventures, Homebrew, and Latitud Ventures also participated in the round.
Cometa automates payments, admissions, and financial reporting, enabling schools to operate more efficiently.
With the funding, Cometa will launch additional tools to maximize school revenues, like building an integrated online store that allows schools to sell products and services directly to families.
Latin America’s under-resourced public education system pushes middle-class families toward private schools. However, over 90% of private schools in Latin America are family-owned businesses that often struggle to manage the finances and administration side of private schools. During the pandemic, nearly one-third of private schools were forced to close due to financial instability. Founded in 2022 by Valeria Tapia, Mateo Creamer, Gonzalo Gallardo, and Andrés Benavides, Cometa has grown 17x over the past 18 months.