Mexican Student Financing Platform Cometa Raises $5M in Seed Round

Cometa, a Mexican startup that helps schools to manage and track their finances and collections, has recently raised $5 million in its seed round led by Kaszek and Reach Capital, with participation from Homebrew, Latitud, Investo VC, 500 Global, Salkantay Ventures, and angel investors Sergio Monsalve, Sebastian Kreis, Jorge Mazal, Courtney McColgan, and Diego Olcese.

Founded by Andrés Benavides, Cometa offers private schools the possibility of centralizing their administrative tasks and having greater control of collections and flows and access to financing. The platform works in a way so that financial inclusion reaches the educational sector and no child in Latin America suffers from the consequences of a system depleted of technological tools and financial solutions.

With this investment round, the company plans to expand its presence in Mexico and continue developing its management software platform. Speaking about the company and its vision, Co-founder & CEO of Cometa, Andrés Benavides, said:

Our vision is to help schools not only take control of their cash flows, but also be able to use their data to obtain projections, budgets, and business intelligence to optimize and maximize goals.

We work so that financial inclusion reaches the educational sector and no child in Latin America suffers from the consequences of a system lacking in technological tools and financial solutions. Today we offer private schools the possibility of centralizing their administrative tasks and having greater control of collections and flows, as well as access to financing. Tomorrow we will do much more

Using Cometa, institutions can automate and digitize their payments and receive real-time reports on timely payers and defaulters. In its first year of operation, the firm reduced late costs by 52% and saved 100 hours of operational work. The platform is always curious and open to new ideas and opportunities. At Cometa, one doesn’t have co-workers; they need partners who take full responsibility for the results.

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