Monety app

About Monety app

Monet operates as a mobile-first financial technology company providing instant cash advances and payroll-backed loans to employees across Latin America. The firm primarily serves both formal and informal workers who have a recurring income and a bank account, addressing the widespread issue of living paycheck-to-paycheck and the lack of access to affordable credit in the region. Monet's business model leverages open banking data to assess loan eligibility, presenting a more accessible and equitable alternative to informal lenders that often impose predatory interest rates.

The company was founded in Colombia in 2020 by Leonardo Devincenzi and Andrés Londoño. The founders identified a significant gap in the market driven by the acute financial exclusion faced by a large portion of the Latin American workforce. Devincenzi, a serial entrepreneur with over two decades of experience in the regional startup ecosystem, leads the company's strategy and development. Londoño, a Colombian economist with a background in finance and fiscal policy, contributes his expertise to the company's structure.

Monet's core product is delivered through a mobile application that allows eligible users to access funds quickly. The platform has seen significant traction, issuing over 400,000 loans and securing partnerships with major financial institutions to enhance its services. In January 2026, the company announced a Series A funding round of $24 million to fuel its regional expansion plans.