Mexican startup Mendel acquired Te Facturo for an undisclosed amount. Mendel will finance the acquisition with the US$60 million raised in November 2022.
Starting this year, the Mexican Tax Administration Service (SAT) has implemented Billing 4.0 as a mandatory. With the acquisition, Te Facturo joins Mendel’s team, adding 80 employees and enabling the verification of both invoices and expenses.
“The integration with Mendel is a natural step for the company, having common goals and related technology, matching Mendel’s growth plan for 2023,”
Roberto Cortez, Te Facturo’s Founder
Mendel competes in the corporate cards and expense management market against two unicorn startups, Jeeves and the Mexican Clara.
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