Bind ERP, the leading cloud-based ERP for SMBs in Mexico, receives an investment from a consortium of venture capital funds
Mexico City, October 23, 2017.- Bind ERP (www.bind.com.mx), a Mexico-based company offering a cloud-based ERP, closed its Series A round with venture capital funds IGNIA, Capital Invent and Avalancha Ventures.
For the over one million SMBs in Mexico using the internet for their daily activities (with that number expected to double in the next 5 years), having access to a world class cloud-based ERP will permit them to gain greater insight into their business and make decisions based on real-time information. Bind allows SMBs to have an administrative system in the cloud to manage every aspect of their business from purchasing and inventory to accounting and sales.
“Millions of Mexican SMBs are looking to make their businesses more efficient to grow. Traditional ERPs have high upfront cost with long on-boarding times, making them hard to access for SMBs. Bind ERP has a low cost, easy to use and tailor-made solution that is making its product accessible to hundreds of small business. We are excited to partner with the talented team behind Bind and to support the company through its future growth,” commented Fabrice Serfati Magaña, Managing Partner at IGNIA.
“We share with Alejandro and his team the mission to ease the management tasks for SMBs, as we believe they are a key element for the economic development of Mexico. In Capital Invent we are very excited to partner with this team and we will be working with them to make Bind the leading ERP for SMBs in México,” said Jana Boltvinik, Managing Partner at Capital Invent.
“At Bind ERP, we are on a mission to make management easy for SMBs. Our team has a profound understanding of their needs and we’ve built a solution that allows them to take full control of their business within minutes. This funding will allow us to accelerate our growth and create new features that will transform the way small businesses operate in Mexico.
We’re thrilled to have a group of investors who share our desire to help Mexican SMBs thrive,” states Alejandro Bonilla, CEO and Founder of Bind ERP.
IGNIA is a venture capital fund that invests in high growth companies aimed at the emerging middle class in Mexico. Founded in 2007, IGNIA has two funds and USD 200 million in capital raised. IGNIA invests in sectors such as health, fintech, financial services, education and basic services. For more information please see: www.ignia.mx and @IGNIA_Fund
About Capital Invent
Capital Invent is a venture capital fund specialized in internet companies. Capital Invent was founded in 2014 and we have a profound commitment to generate prosperity and transform Mexico through entrepreneurship.
About Avalancha Ventures
Avalancha Ventures is an early stage venture capital fund that invests in unique teams building extraordinary companies which, with the use of technology, innovate to deliver efficient and cost-effective products and services for the wider population. You can learn more about us at www.avalancha.ventures.