Mendel Executive Discusses Growth and Market Segment
Mendel's Head of Growth Julieta Ferrero spoke with CB Insights about the company’s view on the global business spend management market and its potential.
Julieta Ferrero, Head of Growth at Mendel, has provided insights into the company's strategy and market perspective in an interview with CB Insights. Ferrero defined Mendel's market focus as global business spend management.
According to Ferrero, this market encompasses the financial operating systems companies use to manage requests, approvals, payments, booking, reconciliation, and analysis of all business expenditures. She estimates the software layer alone generates approximately $30 billion in annual revenue today, with projections to grow to roughly $50 billion by 2030.
These figures pertain specifically to the software segment and do not include the significantly larger financial flows generated through corporate payments and business travel that utilize these systems. Ferrero did not elaborate on specific growth strategies or future product developments during the interview.