About
Mono builds open-banking infrastructure and APIs that help African businesses connect customers’ bank accounts for financial data, bank payments, and identity verification. Its customers include businesses, developers, and financial applications, while its differentiation is broad account connectivity and payment infrastructure across African markets.
Market
Mono competes in Latin American embedded finance and banking infrastructure, with a particularly strong Colombia focus. It positions itself as an API-first, single-integration platform that combines money movement, wallets, balances, real-time payouts, multi-rail payments, and card issuing, differentiating it from narrower banking or payment integrations through broader product coverage and local-network connectivity.
Mono targets B2B customers across Latin America—especially fintechs, banking organizations, and other companies operating in Colombia—that want to embed wallets, payouts, cards, transfers, or other financial capabilities without building the underlying infrastructure themselves. Its positioning also fits small and medium-sized businesses seeking digital banking capabilities.
At a Glance
Problem
Mono addresses the operational difficulty Latin American businesses face when they need to collect, reconcile, and distribute money at scale. Without an integrated infrastructure layer, companies may need separate bank integrations and contracts, while also building payment tracking, compliance, security, and reconciliation systems themselves. Mono positions this as a choice between years of work and a single integration that can be live in weeks.
The clearest use case is for platforms that move money among many participants, such as marketplaces, dropshipping platforms, logistics businesses, and employers paying suppliers, drivers, or payroll. These companies need every payment identified and visible in real time, while being able to pay large groups quickly; Mono cites Dropi using its withdrawal product as a central operating tool for its dropshippers.
Product / Service
Mono is an API-first embedded-finance platform for Latin American enterprises. It provides one integration through which a company can offer payment collection and batch payouts, real-time reconciliation, multi-rail bank transfers, Colombia’s Bre-B instant-payment network, branded wallets, and Visa cards without becoming a fintech or building banking infrastructure from scratch.
The delivery model is infrastructure and white-label financial products rather than a consumer-facing bank account. Businesses can keep their own brand, configure payment and card rules, issue physical, virtual, or tokenized Visa cards, and provide QR, key-based, PSE, Bre-B, and card payment flows. The intended benefit is faster deployment, better payment visibility, and control over the customer experience while Mono handles the complex connectivity and operational layer.
Market
Mono competes in embedded-finance infrastructure, fintech payments, and neobanking services for Latin American enterprises, with its current product and messaging focused particularly on Colombia. The evidence does not establish a named one-for-one Colombian rival, but the broader embedded-finance provider set includes companies such as ConnectPay, Solaris, and Unit; those sources identify them as category providers rather than confirming them as direct Mono competitors.
Mono appears well beyond the pre-revenue stage: its site reports more than $1 billion processed, over six million transactions, and more than 200 operating businesses, naming Wingo, Dropi, Petromil, Guama, and D24. Its YC profile lists it as an active Winter 2022 company founded in 2020 with a 30-person team, while Mono says it is backed by Y Combinator, Visa, and Tiger Global. These traction figures are company-reported and the available evidence does not provide revenue, pricing, or a methodology and date for the headline totals.
Founders & Leadership
Funding History
Tiger Global Management, Y Combinator, Soma Capital
Active Roles
0No active roles right now.
Get notified when they postBusiness Model
Mono monetizes its APIs through tiered pricing based on monthly account connections and usage-based per-call charges. Its pricing includes fees of approximately N60–N500 per call for services such as CAC lookup, registration and shareholder information, and customer-identity verification.