Union Square Ventures led a USD16m Series A for Mundi, a Mexican lending platform financing imports/exports for SMEs, with participation from Upper90, FJ Labs, Base10 Partners, Exor, AndBank, Alleycorp, Operator Partners and Gilgamesh Ventures.
(Press Release) – Today we are announcing our Series A round of $16M, led by Union Square Ventures. The round included participation from Upper90, FJ Labs, Base10 Partners, Exor, AndBank, Alleycorp, Operator Partners, and Gilgamesh Ventures along with fintech executives from Brex, C2FO, Bluevine, Wisetack, Addi and more.
As we entered 2021, we expected we would face new problems that come with scale. I’m humbled by how well the team rose to the challenge. In December, we not only grew our TPV (Total Processed Value) 25x YoY, but also achieved an astounding +95 NPS. More importantly, we learned that the average Mundi client increases their exports by 30% in the first six months of working with us.
Mundi´s growth in 2021 is the result of a dedicated team with a clear mission, to empower companies to trade globally. Thank you to everyone on the team who contributed to 2021 being a breakout year.
Seeing more and more talented and kind individuals join Mundi every week makes me even more excited for what comes next. This year we will continue scaling our core product and begin tackling other problems that exist in cross-border trade, beginning with multi-currency management.
Today, in addition to our Series A, we are also announcing the launch of the first fully digital solution that enables the purchase of both spot and forward contracts in Mexico. These new services will help companies protect their businesses against currency fluctuations and will be available in real-time on Mundi’s platform.
We’re proud of what this round of financing represents – a recognition of the potential of this team and what we can achieve. On top of the recently launched multi-currency solutions, we are working on new product lines that will allow even more companies to grow their business through cross-border trade.
Last year we grew the team from 30 to 130 people and we are always looking for talented individuals who can help us reach our vision of trade with no borders. If you’re interested, shoot us a note at [email protected] ; it’s a fun time to join this adventure!