Higo provides a SaaS platform that automates payables for small and medium-sized businesses in Latin America, starting in Mexico. The product automatically populates invoices from a customer’s vendors and offers a single ledger where users can approve, pay and finance invoices without leaving the platform — the founders describe it as a Venmo for businesses. Since its last funding round the company has launched a financing product that offers on-demand liquidity via AP extension to address late payments. Higo launched its platform in November and says it has grown over 20x to thousands of companies using the service compared with a handful at the beginning of 2021. Clients span enterprise customers such as 99minutos.com and Jokr as well as smaller merchants like vinoschidos.mx. The team has grown from five employees at the start of 2021 to 31 today, plans to reach 60 by year-end, and will use the new capital primarily for hiring across teams; the company was founded in January 2020 and remains focused on Mexico. Higo.io was founded in January 2020 by Rodolfo Corcuera, Juan José Fernández and Daniel Tamayo to automate payables and provide visibility into cash flow for small and medium-sized businesses. The company launched its SaaS platform in November and serves hundreds of small business customers, aiming for "thousands" by year-end. Higo automates invoice population to make invoices tax-deductible under Mexican rules and reduce manual, spreadsheet-driven payables workflows. The startup positions itself as building the "Venmo for B2B payments" in Latin America and targets the large informal segment of Mexico's economy. The team is small (about six people) and plans to grow, particularly by beefing up engineering to scale the product. Higo is currently focused exclusively on the Mexican market with later plans to expand across similar Latin American markets.

Total raised

$26M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2021