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Buenos Aires based payment product startup Moni has raised $3m in venture funding from the International Finance Corporation. Founded in 2013 by Argentinean entrepreneurs Juan Pablo Bruzzo and Alejandro Estrada, Moni provides credit and bill payment products including overdraft, long term credit and bill payment products to underbanked consumers.
The company will use the funds to accelerate its growth and expand its product line for underbanked consumers further improving their borrowing conditions with lower-interest rates and more sustainable credit products such as micro installment loans. By using proprietary technology, the company enables consumers to apply for a loan and pay for telecom, utility and other bills through a mobile app.To date, the platform has made possible more than 200,000 loans in Argentina and Mexico.
http://www.finsmes.com/2017/05/moni-raises-3m-in-funding.html
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