Magma Portfolio
Magma Partners leads pre-seed round for Plaza
We’re thrilled to lead Plaza's pre-seed round and support he entire Plaza team in their mission to empower real estate brokerages with AI assistants.
We're thrilled to lead PayMon's pre-seed round and support José Javier Cordero, Juan Moscoso, and the Paymon team as they transform financial management for schools and families across Latin America.
In 2023, digital wallets made up 21% of e-commerce spending in LATAM and are expected to make up 28% of online spending by 2027. In physical stores, digital wallets represented 15% of transactions in 2023, and are expected to grow to 29% of in-store payments by 2027.
“We’re thrilled to support Juan and Jose’s mission to streamline payments for parents and schools across Latin America. PayMon began by simplifying cafeteria spending and is now expanding into a broader range of transactions involving parents, schools, and children,” Alexa Clark, Associate at Magma Partners
Managing school payments and finances is still a headache for students and schools. Outdated systems and manual processes make things inefficient and frustrating for everyone involved.
“In our focus countries, parents spend over $25 billion annually on youth-related transactions, excluding tuition payments. Most of these expenses remain fragmented and rely on outdated payment methods. PayMon streamlines this process by enabling busy parents to automate and centralize payments in one convenient platform. Beyond convenience, PayMon fosters financial education within a safe and controlled ecosystem for both parents and children,” José Javier Cordero
PayMon improves the experience for families and schools. PayMon’s app helps parents and students take control of their finances with features like spending limits, product blocking, and instant top-ups giving parents control over their children's spending. Schools using Paymon can automate tasks like cash closing and supplier management, and handling digital and in-person payments more efficiently.
Paymon is already making a difference for over 25,000 families and its clients include top schools in Mexico and Ecuador like Irish Institute CDMX, Universidad Anáhuac - Campus Sur, Peterson School, Colegio Alemán Humboldt, and Colegio Americano de Guayaquil.
