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Minu, the Largest Pay On Demand Player in Latin America, Raises $14 Million to Cement Financial Wellness in the Mexican Workforce

Mar 03, 2021•over 4 years ago

Amount Raised

$14 Million

Mexico City

Description

Minu, an employee financial wellness company, today announced that it has raised $14 million in Series A funding. The round was led by FinTech Collective, with participation from VEF, XYZ Ventures, and FJ Labs, as well as DocuSign founder Tom Gonser and Gusto CFO Mike Dinsdale. Existing investors QED Investors, Next Billion Ventures, and Village Global also participated. The round includes $2.5 million of debt from Banco Sabadell Mexico

Company Information

Company

Fin Tech Collective

Location

Mexico City, Distrito Federal, Mexico

About

Backed by institutional capital and with a deep operating history as entrepreneurs, FinTech Collective is investing out of its third fund, a $150m+ early-stage fund. The portfolio of 44 companies includes notable investments in Latin America, including Minu, Contabilizei, Fondeadora, Migo, Minka, Oyster, Rebel, Runa and OXIO. Outside of the region, notable investments include Anyfin (Stockholm), Axoni (NYC), Flutterwave (Africa), MoneyLion (NYC, IPO through FUSE), NYDIG (NYC), Ocrolus (NYC), Quovo (NYC, acquired by Plaid) and Vestwell (NYC). The fund publishes a weekly newsletter to 12,500 subscribers available at fintech.io/newsletter.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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