Mexican fintech company Monato has successfully raised $13 million in a seed funding round, with leading contributions from Monashees and FinTech Collective. The round also saw participation from IGNIA Partners, Clocktower Ventures, Polymath Ventures, and Angel Ventures. Established in 2024 by Iñigo Rumayor, Monato specializes in creating modular and scalable financial infrastructure, enabling businesses to integrate financial services while adhering to regulatory standards. Operating in Mexico through its partner Finco Pay, Monato is directly connected to the SPEI payment system. The company plans to utilize the newly acquired funds to introduce a range of new services, including direct debit, cross-border payments, foreign exchange, and integrated smart credit solutions, all developed with an API-first strategy. In the first half of 2025, Monato expanded its workforce by 33%, attracting talent from major companies such as Amazon, PayPal, Walmart, SHCP, and CNBV.
How did Monato secure $13M for expansion?
