Mexican Fintech Mango Lands $3m Funding Round Led by Ironspring Ventures to Fix Construction’s Cash Flow Crisis in Latin America

Mango funding round has secured $3 million in capital to address cash flow problems plaguing Latin America’s construction sector. The round was led by Ironspring Ventures, with participation from Brick & Mortar Ventures, Great North Ventures, Buildtech Ventures, Incisive Ventures, and First Check Ventures.

BBVA Spark, the innovation arm of BBVA, Mexico’s largest financial institution, also extended a credit facility to help Mango scale its services nationwide in Mexico. Notable angel investors include Courtney McCoulgan, CEO and founder of Runa, and Jaime Tabachnick, CEO and founder of Solvento.

Founded in Monterrey in 2022, Mango provides embedded credit, automated B2B payments, and real-time risk intelligence for construction contractors and suppliers. The platform enables construction companies to establish credit lines and purchase materials from suppliers across Mango’s growing network. That credit is underwritten and managed in-house, supported by a proprietary risk engine built to assess fraud, verify documentation, and make near-instant lending decisions.

The funds will be used to deploy structured credit, expand its contractor and supplier network nationwide, and strengthen its internal teams in finance, engineering, and risk.

Although the Latin American construction market size is estimated at USD 710 billion in 2025 and is expected to reach USD 905 billion by 2030, recent reports indicate that over half of construction companies in Latin America reported late payments, with an average delay of 52 days, a 16-day increase from the previous year. These delays hit construction especially hard, creating costly work stoppages, forcing suppliers to raise prices, and making it nearly impossible for small contractors to plan or scale their operations.

The Mango funding round shows that more and more venture capitalists are interested in fintech platforms that help fix problems with construction in emerging markets.

Mango addresses this bottleneck by embedding credit directly into procurement workflows. Contractors gain access to structured credit lines, which they can use to purchase materials across Mango’s supplier network. On the other hand, suppliers receive payment on time, with no invoicing or follow-up required. Behind the scenes, Mango’s platform uses a proprietary engine that pulls real-time bank and document data to underwrite each transaction and flag fraud.

“Construction moves the world, but its money flows are stuck in the past,” said Sergio Angelini, co-founder and CEO of Mango. “At Mango, we’re building the financial backbone this industry has always deserved, starting with Latin America.”

Mango steps in as a credit intermediary and trust builder, allowing construction companies to streamline procurement without requiring upfront capital or long-term banking relationships. For suppliers, it reduces payment risk and simplifies reconciliation. The result is faster builds, fewer work stoppages, and less financial strain.

“Recent nearshoring trends have only further propelled the need for robust infrastructure in Mexico, and Mango provides a powerful FinTech solution enabling construction builders and suppliers to efficiently communicate and transact, ensuring building projects are completed on time and on budget,” said Ironspring Ventures Co-Founder and General Partner Ty Findley. “As an Austin, Texas-based venture investor focused on the industrial supply chain, we’ve closely watched how Mexico continues to surge as a critical trade and economic hub in North America, and Mango, with its team’s deep domain expertise in Mexico and incredible transaction volume growth over the last year, is quickly filling a whitespace to expand trust and transparency across the country’s construction ecosystem in support of this momentum.” Findley will join Mango’s Board of Directors.

The founding team brings a strong combination of construction experience and fintech credentials. Angelini comes from a family of builders. COO Luis Morales previously worked for a construction firm in Monterrey and saw firsthand how credit constraints slowed operations. CTO Patricio Naumann formerly led engineering at Creditamente, an Argentine microlending platform.

The company participated in the Formwork Labs accelerator, a program backed by BuiltWorlds and Brick & Mortar Ventures. That experience, along with early funding from Great North Ventures and other backers, helped Mango grow its revenue 40% month over month, refine its underwriting tools, and expand its supplier partnerships across major Mexican cities.

The startup is currently focused on expansion within Mexico but sees broader opportunities in markets across Latin America. Its pitch to both investors and the construction ecosystem is clear: faster, safer money movement means faster builds. And as the region accelerates its digital transformation, Latin America’s digital economy is projected to reach $680 billion by 2030, according to the Inter-American Development Bank. Mango offers a path to bring one of the region’s most analog, underserved sectors online.

With this Mango funding round, the company is going to change how Latin American construction companies handle money, which will make things run more smoothly and give them more cash flow.