With the vision of eliminating liquidity problems between companies, Rodolfo Corcuera together with his partners Juan José Fernández and Daniel Tamayo decided to create Higo.io, a startup that seeks to accelerate the growth of small and medium-sized companies (SMEs).
Previously, Corcuera had founded a company with which debts and problems had accumulated in such a way that he had no money to pay his suppliers despite having a profitable business.
“We sold products and services to large companies, resulting in liquidity problems. We had no way to pay our suppliers because our customers were slow to pay. For example, my suppliers required me to pay 15 days while my clients paid 45; many times I did not have enough cash to make the payment, “he explained.
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It was at that moment that they realized that they had to have certain things clear: visibility of who owed them, visibility of who they owed and control of how they were going to pay. Rather than having to opt for traditional financing solutions, they wanted a quick and inexpensive option.
This is how the idea for Higo.io came about, a startup that has the purpose of eliminating liquidity problems of companies by providing complete control over the collection, payment and financing processes, a premise that has allowed them to form a portfolio of clients such as Jokr, Síclo +, Diri Telecomunicaciones and Benebox, among others.
Thus, one year after the beginning of the Covid-19 pandemic, in which they disappeared 20.8% of companies, according to data from the National Institute of Statistics and Geography (Inegi), Corcuera, who also serves as CEO, together with their partners managed to raise an investment round of 3.3 million dollars (mdd) in May of this year.
Higo started 2021 with five employees and now has 31, with the goal of having a workforce of 60 by the end of the year. He plans to use his new capital primarily to hire on all teams.
“Our added value is in providing greater agility and efficiency through our platform. In which our clients receive, pay, collect and finance invoices at the cheapest rates thanks to our credit algorithms. It is the smartest way to keep control of your payment process ”, he assured.
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Recently, the group of entrepreneurs obtained in a second round of capital for 23 million dollars, with the support of international investors such as Tiger Global Management and Accel.
When asked what is the difference between Higo.io and traditional banks, the entrepreneur pointed out that Higo adjusts to the needs of customers, gives certainty when and how much they need; furthermore, it delivers timely credit at very low rates, which immediately eliminates liquidity problems.
Likewise, it projected that in 5 years it would be ideal for no company to be late in pay its suppliers for lack of flow, which would give greater agility, certainty and liquidity to all Mexican companies, especially SMEs.
Today, the company says it has grown “more than 20 times” And it has thousands of companies paying and getting paid with its platform compared to just a few in early 2021.
“10 years ago when I started, there were few funds that will drive the growth and development of new companies. Today we have access to the largest capital funds in the world such as Accel and Tiger Global, with whom Mexican entrepreneurs can fulfill their dreams, ”says Corcuera.
“There is no better time to start a business in Mexico than now. We are committed to helping Mexicans to optimize their processes to start creating solutions ”, he adds.
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