Susa Ventures
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Susa Ventures

Our Investment in Higo

By Misha Gordon-Rowe, Investor and Seth Berman, Co-founder & General Partner at Susa Ventures

Susa Ventures is excited to announce our investment in Higo, a B2B payments company in Mexico City serving SMBs across Latin America. We’re investing alongside Homebrew, Haystack and J Ventures. And we’re thrilled to welcome Rodolfo, Juanjo and Daniel to the Susa Family.

From left to right: co-founders Daniel, Rodolfo and Juanjo.

Over the past couple years, Susa has been an increasingly active seed investor in LatAm B2B fintech (Runa HR, Nelo). As a firm, we’re excited about the massive opportunity to create powerful, cloud-based financial software for Mexico’s 5M and Latin America’s 18M SMBs.

Today, Mexican small businesses pay their vendors through legacy and cumbersome processes. They receive bills physically or via email/Whatsapp, pay via slow bank processes, record transactions in excel, and manually reconcile bank accounts and accounting systems. The process can take days each month and is error prone, and it’s ready to be modernized. Moreover, SMBs were disproportionately impacted by the COVID-trigged economic shutdown, and the pandemic brought to light the cash flow challenges that persist for SMBs globally.

For the first time ever, Higo is building software to streamline B2B payments and the financial back-office for LatAm SMBs. For buyers, this means turning days of monthly work into minutes; since all Mexican invoices are associated with a government tax ID number, invoices can be downloaded directly from a government site, approved by the business owner and the entire end-to-end process can be completed within Higo’s platform. For suppliers, this means getting paid faster and having better visibility into their A/R. And Higo’s customers love them — they’ve had 100% retention to-date.

We’re just as excited about what Higo can build on top of its payments platform to improve cash flow and liquidity for SMBs. Higo can leverage business transactions to offer capital products like revolving credit, working capital loans, and factoring. And they can build dashboards to help SMB owners better understand and predict their own cash flow needs.

There’s no better team to do this. Rodolfo, Juanjo and Daniel are talented repeat entrepreneurs who have built fintech products and served SMBs before. They’re a passionate, whip-smart, creative and fun squad, and we’re thrilled to partner with them and their team to help millions of small businesses send and receive payments faster and make huge improvements to their cash flow.

Higo is hiring aggressively across engineering, growth and design. More on their open positions here: https://jobs.lever.co/Higo

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Susa Ventures

Susa Ventures

Susa Ventures is an early stage venture capital firm, investing in a growing family of dreamers and builders.