LatamList – Mono, a digital banking platform that focuses on providing financial solutions to SMEs in Colombia, raised an undisclosed amount from Magma Partners.
The fintech aims to help businesses open a 100% digital checking account in minutes, through WhatsApp, and enable them to make online payments with a debit card through a solution that seamlessly integrates with their partners’ accounting software.
Founded in April 2020 by Salomon Zarruk, Jose Tomas Lobo, Juan Camilo, and Sebastian Ortiz, Mono aims to solve the problems that are holding Colombian SMEs back from unleashing their full potential.
With this round Mono will position itself as the primary bank account for SMEs and startups in Colombia, freeing them from lines, forms and banks’ bureaucracy. Ultimately, allowing them to focus on their business.
The VC firm stated that it is “excited to invest in Mono as it launches into the Colombian market”.
