Mendel, a startup that provides corporate spend management tools for enterprises in Latin America, has successfully raised $35 million in a Series B funding round led by Base10. This funding brings Mendel's total capital raised to $60 million. The company, which is often compared to Concur and American Express, is focused on serving large, complex enterprises such as Mercado Libre, FEMSA, Adecco, and McDonald’s. Mendel's business model primarily relies on charging customers, which aligns with the lower interchange rates prevalent in Latin America. The company has reported a year-over-year growth in annual recurring revenue (ARR) of nearly 2.5 times, alongside gross margins exceeding 75%. Y Combinator has also congratulated the team on their funding achievement.