Cometa

Cometa

Cometa aims to digitize the entire tuition payment process for schools, which, for the most part, still operate based on bank slips, spending a lot of energy and providing a poor payment experience for parents. For schools, Cometa guarantees monthly payments (upfront revenues every month), with a turnkey collection system and automated reconciliations, saving the maintainers time, which can be allocated to more value-creating activities.

Investment Thesis

Public education in Latam is not serving the needs of constituents: per OECD 50% of publicly educated 15 year-olds do not achieve minimum proficiency in reading. The difference in average scores is equivalent to 2.5 years between public and private education (World Bank). Combined with constant interruptions (labor strikes, infrastructure deficiencies, etc.), this has been driving a growing middle class to look for alternatives in the private sector. From the school side, despite increased demand, cash flow and collections are threatening the viability of many of these private institutions, especially the lower-tuition ones. Per law, students cannot be removed for non-payment during school year (Mexico: during semester) limiting recourse and resulting in payment delinquency. Schools are not effective at tracking and collecting payments: antiquated management tools. Unreliable cash flow throughout school year limit ability to invest in growth.

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