MONI gets $1.5m investment

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MONI gets $1.5m investment

MONI gets $1.5m investment from the International Financial Corporation (IFC)  following $3 million in May 2018 from BID Invest

  • MONI, which operates in Argentina and Mexico, aims to use this recent funding to expand its available loan capital and range of services
  • IFC focus on the development of emerging markets invested £3 million last year
  • In 2013, the firm was the first in offering immediate loans in a fully digital process in Argentina
  • They added payment services and online shopping services to its platform last year, followed by this year’s launch of the first digital public escrow service
  • MONI has issued over 600,000 loans throughout Argentina and Mexico, aiming at commercial sectors that are traditionally scarce in financial products