Fondeadora adds $14M to its Series A

LatamListFondeadora, the Mexican challenger bank, added $14M to its Series A funding round. The startups previously raised $14M in August 2020, bringing the Series A total to $28M. 

Fondeadora is a neobank aiming to democratize personal finance in Mexico and digitalize the system. The Fondeadora account is free of charge and operates with an app and debit card.

The extension comes from existing investor Gradient Ventures and new investor Portag3, plus contributions from angel investors Gokul Rajaram and Anatol von Hahn.

“We received an unsolicited and unexpected term sheet three months after our Series A,” said Norman Müller, co-founder and CEO of Fondeadora.

With the round extension, the company’s valuation doubled. The startup also recently acquired Mibo, a digital wallet app.

Read more on TechCrunch.

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