Fidu, the operating system for Latin American schools, today announced it raised $5M USD funding from Lightspeed Venture Partners, NFX, and regional unicorn founders including Felipe Villamarin and Andres Bilbao (Rappi), Matias Woloski (Auth0), Roby Souviron (Despegar) and Fabian Gomez (Frubana) as well as Imaginable Futures and Broom Ventures. Fidu will use the funding to continue scaling its platform to help schools automate all major processes including payments, communications, cost management, and learning management through custom apps and interfaces for administrators and parents.
The Problem: Managing Schools is Complex
Today much of school administration in Latin America is still offline, despite high digital usage. School administrators need to handle payment, multiple vendors, payroll and communication with families among many other tasks; all that before even getting close to working with students, which is what they really signed up for. In fact, administrators and principals in Latin America spend 75% of their time dealing with operational tasks, while over 60% of parents and teachers say they are dissatisfied with school management.
Fidu's Solution: An Operating System to Automate Finances and Management
Founded by Nicolás Giménez, Caterina Carreño and Ariel Manduca, Fidu automates all major processes for schools spanning from finances to management of classrooms. The company has already partnered with over 1,000 schools in Mexico, Colombia, Peru and Argentina, and has drastically reduced costs and streamlined operations for its customers.
“Fidu is enabling parents to live the dream of sending their children to schools better than the ones they attended,” said Mercedes Bent, Partner at Lightspeed. “By providing digital solutions that improve the management of all aspects of academic processes, we believe Fidu's technology has the potential to transform schools in Latin America, and we have been continually impressed by the team's tenacity, presence, resilience, and impact focus.”
“We are very pleased with the support and trust we have received from some of the best investors in the region,” said Nicolás Giménez, CEO and co-founder of Fidu. “This injection of capital will further our mission of empowering educators in Latin America with quality digital solutions and financial services for the educational communities.”
Fidu's first financial product is an integrated receivables management solution with access to guaranteed revenue financing, which they are already piloting in Mexico City and Bogota. The funds will be used to scale operations throughout the region and to launch a new set of financial solutions for its customers.
“Fidu is unlocking the potential of school administrators in the region with great technology and affordable financial solutions, so that they can focus on what really matters: educating,” explained James Currier, General Partner at NFX. “After realizing schools had very few options for financial and management software, Fidu's incredible founding team set off to create a platform that better served both school and students.”
To learn more and sign up for Fidu, please visit: https://www.fidu.la/
About Fidu:
Fidu is the operating system for Latin American schools. Its platform provides digital solutions that automate the management of academic, administrative, financial and communication processes. With more than 1,000 educational institutions in 10 countries, Fidu has the vision of improving education in Latin America with innovative, accessible and easy-to-use technology. It was founded in 2022 and raised a $5 million seed round led by NFX and Lightspeed Venture Partners. Learn more at https://www.fidu.la/.
— WebWireID295174 —
