Mendel provides an expense management platform that automates expense reporting, real-time visibility, and compliance with spending policies through intelligent budget allocation and corporate card management. This technology reduces financial inefficiencies and fraud, enabling organizations to enhance cost control and improve the recovery of tax receipts.
Funding
$95.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many companies face challenges in managing expenses, including inefficient reporting processes, lack of real-time visibility into spending, and difficulties in enforcing compliance with spending policies. These issues can lead to financial inefficiencies, increased risk of fraud, and lost opportunities for tax recovery.
Solution
Mendel provides a comprehensive expense management platform designed to streamline and automate expense reporting, offer real-time visibility into company spending, and ensure adherence to spending policies. The platform leverages intelligent budget allocation and corporate card management to enhance cost control and improve the recovery of tax receipts. By integrating with existing systems and providing smart physical and virtual cards, Mendel empowers organizations to optimize resource allocation, enforce financial discipline, and eliminate manual operational tasks associated with expense management.
Target Audience
Mendel's primary customers are CFOs, controllers, and finance teams at medium to large enterprises across various industries, including logistics, automotive, retail, and health/pharmacy, seeking to optimize their expense management processes and reduce financial inefficiencies.
Features
- Real-time expense tracking and reporting
- Automated invoice recovery with SAT validation via ticket photo
- Instant employee reimbursement, regardless of payment method
- Smart corporate Visa cards (physical and virtual) with configurable spending rules
- Customizable budget allocation and spending policies
- Integration with ERP systems for real-time data synchronization
- AI-powered data analysis for identifying cost-saving opportunities
- Automated audit of expenses to ensure compliance with company policies
- Travel management module for booking flights, cars, and hotels with customizable travel policies