Cometa raised a $5M seed round led by Kaszek, Reach Capital, Homebrew, Latitud, Investo VC, 500 Global, Salkantay Ventures, and angel investors Sergio Monsalve, Sebastian Kreis, Jorge Mazal, Courtney McColgan, and Diego Olcese.
Cometa offers a platform that helps schools to manage and track their finances and collections.
With these funds, the company will expand its presence in Mexico and continue developing its management software platform.
“Our vision is to help schools not only take control of their cash flows, but also be able to use their data to obtain projections, budgets, and business intelligence to optimize and maximize goals,” said Andrés Benavides, CEO and co-founder of Cometa.
Using Cometa, institutions can automate and digitize their payments and receive real-time reports on timely payers and defaulters. In its first year of operation, Cometa reduced late payments by 52% and saved 100 hours of operational work.
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