Mexican FinTech Mango, a platform specialising in embedded credit and real-time B2B payments for the construction industry, has reportedly raised $3m to tackle cash flow challenges across Latin America’s building sector.
The funding round was led by Ironspring Ventures, with additional backing from Brick & Mortar Ventures, Great North Ventures, Buildtech Ventures, Incisive Ventures, and First Check Ventures, according to a report from FinTech Finance News.
BBVA Spark, the innovation division of BBVA, also provided a credit facility to help Mango scale nationally in Mexico. Notable angel investors included Runa founder and CEO Courtney McCoulgan and Solvento CEO Jaime Tabachnick.
Founded in 2022, Mango offers a digital platform that enables construction contractors and suppliers to access structured credit lines and execute payments through an integrated procurement workflow. The system is powered by a proprietary risk engine that supports underwriting, fraud detection, and instant lending decisions using real-time bank and document data.
With the new capital, Mango plans to deploy structured credit, expand its contractor and supplier network across Mexico, and strengthen its internal finance, engineering, and risk teams.
Ironspring Ventures co-founder and general partner Ty Findley said, “Recent nearshoring trends have only further propelled the need for robust infrastructure in Mexico, and Mango provides a powerful FinTech solution enabling construction builders and suppliers to efficiently communicate and transact, ensuring building projects are completed on time and on budget.
“As an Austin, Texas-based venture investor focused on the industrial supply chain, we’ve closely watched how Mexico continues to surge as a critical trade and economic hub in North America, and Mango, with its team’s deep domain expertise in Mexico and incredible transaction volume growth over the last year, is quickly filling a whitespace to expand trust and transparency across the country’s construction ecosystem in support of this momentum.”
Source: https://fintech.global/
