Only half a year after closing a seed funding round at US$3.3 million, Mexico City-headquartered Higo announced today it has closed an Accel-led Series A funding round, having raised US$23 million.
The funding round drew commitments from big-name Tiger Global Management alongside existing backers Audacious, Haystack, Homebrew, J Ventures, and Susa Ventures.
Some notable angel investors also participated in the financing effort, including Stripe COO Claire Hughes-Johnson as well as former Stripe exec Cristina Cordova.
In clear terms, Higo’s long-term mission is to transform B2B payments for small and medium enterprises (SMEs) in Latin America, starting with its primary location – Mexico.
Higo was launched by co-founders Rodolfo Corcuera, Juan José Fernández, and Daniel Tamayo in January 2020, having detected the complication and stress small business owners face when trying to pay vendors.
“In Mexico, small businesses mostly handle payables with nothing more than spreadsheets and email and legacy bank accounts,” CEO Corcuera said.
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