Moni

Moni

Lending | Online Loans
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  • FOUNDING YEAR: 2013
    LOCATION:
    Argentina
    REGION:
    Last Update:
    27 Jun, 2019

Description

Moni provides a mobile-based platform for the unbanked section for bill payments. The company helps its users to receive a cash advance immediately, without formalities or paperwork and is 100% online. Moni allows users to request a short-term microcredit in cash, pay their services or recharge cell phone, quickly and without banking procedures. It also gives cash advances up to $4,000 without any paperwork and credited directly to the banking account.

FOCUS

PRODUCTS & SERVICES:
Mobile and virtual banking platform for micro-loans. It allows customers to pay their utility bills or ask for cash advance with one click from app.
COMMENT
Moni executes the operation in seconds and finance it for up to 30 days. At due date Moni debits clients bank account the cash advanced.

PEOPLE

FOUNDERS:
Alejandro Estrada, Juan Pablo Bruzzo
INVESTORS:
NXTP Labs, IFC, Fabrice Grinda, Inter-American Development Bank (IDB) Group,, FJ Labs

TRACTION

VALUATION / MARKET CAP:
$6.65 MM in 2014

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$6 Millions
DATE OF LAST FUNDING:
May 2018
TOTAL FUNDING COMMENT:
The company is planning to use the funds for expansion of its credit portfolio in the under-banked sectors and expand its product offer to continue developing the credit market(May 2018).
SEED & PRIOR FUNDING:
$3 Millions
SEED CLOSED ON:
May 2017
SEED PRIOR FUNDING COMMENT:
An undisclosed amount of funding was raised in Oct 2014.
FUNDING SERIES:
SERIES A
$3 Millions Closed: May 2018
LISTED:
NO

LATEST RESEARCH