Y Combinator Backed Heru Raises $1.7 Million


The Mexico based startup, Heru announced a $1.7 million raise in a pre-seed round. Last year, the startup took part in YC’s Summer 2019 session. Y Combinator is a startup incubator and investment group. Y Combinator is also backing Heru. The initial round was conducted in February raising a $500,000 check. Later, another $1.2 million was raised in the weeks following the initial round.

About Heru

Mateo Jaramillo and Stiven Rodriguez Sanchez founded Heru in 2019. It offers a tech-based solution to different obstacles faced by independent workers. It provided tailor-made services for the gig-economy workforce within Latin America.

The company aims at inclusion, career development, financial stability, and building a community. According to Heru’s survey, over 145 million gig/independent workers in Latin America are facing constant stress and exclusion. 

The founders’ initial pitch was an idea similar to OYO. By allotting a personalized tech-service to independent workers, the startup aims to aid them in progressing their professional and personal well-being. 

Heru’s Purpose

Heru provides a package of software products, offering insurance, credit, and tax preparation support. Since the independent workers in Mexico are expected to file taxes every month, Heru is a handy tool. Moreover, Heru costs them a meager $5 each month as compared to $25-$30 charged by accountants in the market.

The startup is targeting delivery drivers, Uber drivers, and other freelancers broadly. They are already serving around 1,200 users, and some 20,000 are next in line. Heru has plans to expand its products and spread them across more countries.

About Y Combinator

Y Combinator helps budding startups by assisting the founders and investing in their idea. The group works intensively with the companies for around three months. During this period, they lead the startup and get it in the best possible shape. YC team helps them refine their pitch to investors. During the event, these startups present their offerings to a carefully selected, invite-only audience. 

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