Higo
- Industry
- Financial Software
- Founded Year
- 2020
- Headquarters
- Montes Urales Street 424, Lomas Virreyes, Lomas De Chapultepec V Secc, Miguel Hidalgo, Mexico City, Mexico, 11000
- Employee Count
- 36
Key People
- Rodolfo Corcuera Meier - Founder and CEO
- Juan Jose Fernandez Gallardo - Co-Founder
- Daniel Tamayo - Co-Founder & Head of Design
- Matias Umaschi - CEO
- Amit Kumar - Board Member
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The founding team comprises individuals with over a decade of experience in the fintech sector.
The leadership's deep understanding of financial technologies and market dynamics enhances the company's strategic direction and operational execution.
- Clinical Need
-
Aspect: Very Strong
Summary: Higo addresses a critical need for streamlined B2B payment processes in Latin America.
By offering solutions that reduce manual processes and improve cash flow management, Higo meets a pressing need among SMEs in the region.
- Competition
-
Aspect: Somewhat crowded
Summary: The B2B payments sector in Latin America has multiple players, though Higo offers unique features.
The presence of competitors necessitates continuous innovation and differentiation to maintain market position.
- Technical Challenge
-
Aspect: Predictable
Summary: The technical challenges associated with developing Higo's platform are manageable and well-understood.
Leveraging existing technologies and best practices has enabled Higo to build a robust and scalable platform.
- Patent
-
Aspect: None
Summary: Higo currently does not hold any patents for its technology.
Without intellectual property protection, competitors could potentially replicate Higo's solutions, impacting its market share.
- Financing
-
Aspect: Well-funded
Summary: Higo has secured substantial funding from reputable investors, totaling over $26 million.
The capital raised enables Higo to invest in technology, talent, and market expansion, strengthening its competitive position.
- Regulatory
-
Aspect: 510k/PMA
Summary: Higo operates within the regulatory frameworks applicable to fintech companies in Mexico.
Compliance with financial regulations ensures legal operations but may require ongoing adjustments to meet evolving standards.
Opportunity Rollup
- Odds of Success
- 3.65
- Peak Market Share
- 5.25
- Segment CAGR
- 9.5%
- Market Segment
- B2B Payments
- Market Sub Segment
- SME Financial Solutions
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.26 |
| 2 | 0.79 |
| 3 | 1.84 |
| 4 | 3.67 |
| 5 | 5.25 |
Key Takeaway
Higo is well-positioned to capitalize on the growing demand for B2B payment solutions in Latin America, leveraging its experienced team and strong financial backing to navigate a competitive and evolving market landscape.