Monet, a Colombian fintech focused on small-ticket lending, raised a $24M Series A round structured with both equity and a credit facility.
Monet operates a digital lending platform that offers short-term, low-amount loans to users who do not qualify for traditional banking products. Its app serves informal workers, entrepreneurs, and people without formal credit histories.
With the funds, Monet will strengthen its technology stack, expand nationwide coverage, and improve its risk assessment models. Monet will also invest in new products aimed at underserved segments, including Venezuelan migrants in Colombia who often lack credit histories or guarantors.
Monet expects to issue 3.5 million loans by 2026 and plans to expand into Mexico in the fourth quarter of that year.
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