Magma Partners bets on financial solutions for SMEs in Colombia with Mono investment

April 22, 2021

February 23, 2021

Mono is a digital banking platform that focuses on providing financial solutions to SMEs in Colombia. The fintech aims to help businesses open a 100% digital checking account in minutes, through WhatsApp, and make online payments with a debit card through a solution that seamlessly integrates with their partners’ accounting software.

Founded in April 2020 by Salomon Zarruk, Jose Tomas Lobo, Juan Camilo, and Sebastian Ortiz, Mono aims to solve the problems that are holding Colombian SMEs back from unleashing their full potential. 

Magma Partners is excited to invest in Mono as it launches into the Colombian market.

With this round Mono will position itself as the primary bank account for SMEs and startups in Colombia, freeing them from lines, forms and banks’ bureaucracy. Ultimately, allowing them to focus on what really matters - their business.