Congratulations to portfolio company Minka on this most recent round of funding. Minka is an open network that aims to allow organizations such as banks and clearinghouses to “publish” and move money in real time by exposing their “closed, outdated core systems” to the web - and in its home country of Colombia, the startup has already had an impact. It partnered with ACH Colombia to work on The Transfiya project, which includes direct read and write API access to 80% of the accounts in the country. This makes it the largest open banking project in the region.
“We aim to connect the world’s balances through the web using shared, connected ledgers,” he said. “The project in Colombia has proven this is possible and has become one of the fastest-growing real-time payments networks in the region, enabling previously slow money to move instantly and with minimal cost.”