Article
The growth of Mandü: building the next generation of HR technology by joining forces
February 18, 2026

18/2/2026
min read
Starting with questions before building solutions
Mandü HR's story is not one of linear growth or overnight success, but more of careful market listening, evolution with purpose, and deliberate choices about when to grow, specialise, or join forces. Founded in Peru by three entrepreneurs exploring ideas for a sustainable business, it began with a simple question: what do employees really want at work? That curiosity led to a survey-based tool designed to understand employee preferences and better align non-monetary incentive programmes.
The true users of the tool were HR teams, and HR itself was evolving from an operational function into a strategic partner. That shift marked Mandü’s entry into HR technology. Around 2016, the company deepened its focus on employee engagement surveys and later expanded into performance management, guided from the start by a shared conviction: working well is possible.
“We never believed HR should exist just to measure what’s wrong. Its real role is to help organisations work better, every day,” says Sebastian Nadal , one of Mandü’s founders.
When the market demanded a platform
As Mandü grew, the market matured with it. Companies once comfortable with standalone HR tools began to feel the strain of fragmented systems, like disconnected data, scattered experiences, and increasing complexity. What they wanted was not more features, but coherence: a single platform where engagement, performance, talent, payroll, and people data could coexist in a connected, decision-ready environment. That shift prompted Mandü to rethink its own ambition. The future would no longer be defined by individual modules, but by its ability to integrate multiple HR capabilities into one coherent experience.
“Adding features was never going to solve fragmentation,” explains Nadal. “At some point, you have to decide whether you’re building tools — or building a platform.”
“Solo” was no longer the best option
For Sebastian Nadal, the next phase of growth was never about scaling in isolation.
“At a certain stage, growing alone stops being brave and starts being limiting; the real challenge is choosing the right partner,” he says.
Even before any formal transaction, it was clear that sustainable acceleration required a partner that truly complemented Mandü’s strengths. Argentina became the natural focus, and Zetech (Vismaway), with its strong presence in Argentina and Peru, stood out. Zetech brought deep expertise in core HR and payroll, operational scale, and a solid customer base, alongside long-term thinking and shared values. This move was not about losing autonomy, but reinforcing it by combining strengths and executing with greater confidence.
Being part of Visma made it possible: its long-term ownership model provided the perspective and patience to find the right strategic fit, while preserving each company’s identity and pace of growth.
One platform, multiple capabilities
This new structure enabled something more ambitious: true integration. Mandü’s vision is to eliminate fragmentation by building a single platform where all HR capabilities coexist seamlessly. “Technology should reduce complexity, not shift it from one place to another,” Sebastián adds. The goal is a unified experience that simplifies work for HR teams while increasing clarity and control across organisations. It’s not just a technical choice, but a strategic one—proof that scale, when built on solid foundations, leads to better products, not heavier ones.
Growing better, not just bigger
Mandü’s evolution has also reshaped its leadership. As the other two founders stepped away to pursue new ventures, Nadal assumed full responsibility for Mandü’s long-term vision as Chairman, later entrusting the day-to-day leadership in Peru to a long-standing team member with deep roots in the company.
“Growth forces you to accept that the company can’t keep depending on you, and that’s not loss, it’s progress,” he reflects.
Being part of Visma further expanded his perspective, exposing him to different markets and leadership models. Today, alongside Managing Director Marcelo di Gennaro, Nadal is focused on what comes next: helping companies decide when to build versus buy technology, adapting to increasingly automated software environments, and using AI to create simpler, more intuitive HR experiences.
The ambition is clear: to build one of the most complete and trusted HR platforms in Latin America. But, as Nadal concludes, real growth isn’t defined by shortcuts; it’s built on strong foundations, real specialisation, and partners who help you grow better, not just bigger.
About Mandü
Company: Mandü
Founded: 2015
Joined Visma: 2022
Employees: +330
Customers: +4500
Markets: Peru & Argentina
What it does: HR platform covering engagement, performance, talent, and payroll, built to help medium and large sized organisations work better through clarity, trust, and integration.
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