LatamList – Yaydoo, a Mexican fintech, raised a $20.4M Series A funding round led by Base10 Partners and Monashees. SoftBank’s Latin America Fund and Leap Global Partners also participated in the round.
Yaydoo is a B2B financial management platform that provides three key financial services for businesses: cash flow management, access to smart liquidity, and connection to digital financial tools.
The fintech aims to provide more affordable financial management services for SMEs, with simple formats that are easy to manage and use.
Yaydoo will use the new funding to expand into new countries in Latin America, starting with Colombia and Peru. The startup will also look to make new hires and develop new financial solutions to serve its clients.
“An important step for Yaydoo is regional expansion in Latin America. We know that the initial aim will be in Spanish speaking countries because that is where there is a similar need to that of Mexico,” said Sergio Almaguer, co-founder and CEO of Yaydoo.
The platform has experienced rapid growth in the past year, quadrupling its customer base and now registering over 70,000 companies on the Yaydoo network.
Read more on Forbes.
