PROBLEM
Latam has +300M workers, and about 2/3 live paycheck to paycheck, with limited or no access to credit from formal institutions
Informal loans in the region have predatory interest rates and are in high demand for people who have no other credit option. We built a real alternative that solves this problem directly.
SOLUTION
Through our ecosystem, we promote the formal use of money and responsible consumption, we understand the impact that this has on poverty, education, and the health of the people who are at the bottom of the pyramid.
VALUE PROPOSAL
Monet is the first company to use open banking in Colombia to have an alternative credit score that allow us to grant loans to low income population in the country.
TWEET PITCH
MONET, a Colombian fintech, boasts over two years of success, marked by a proprietary risk score system that ensures a mere 3% default rate and over 60% acceptance rate. MONET has granted more than 1 million loans to low-income individuals and micro-businesses, underscoring our commitment to financial inclusivity. We run special financial inclusion programs tailored for women and migrant populations. This achievement has fostered partnerships with major banks, targeting financial inclusivity at the grassroots level. MONET aims to expand into Mexico and Latam to enhance B2B services, offering cutting-edge technologies in disbursement, risk assessment, and collections to a broader business spectrum.
TARGET MARKET
Latam US 9.7b