Monedo uses machine-learning technologies to provide access to better credit for the underbanked.
Monedo's Group’s mission is to improve financial freedom for the underbanked with the use of technology. Combining non-traditional data sources and machine learning, the company is aiming to provide access to better credit and a higher convenience for digital banking services. The product offerings include consumer loans, a digital wallet and a personal finance manager designed to help customers manage their credit score and plan their spending. Monedo also offers a “Lending as a Service” model, allowing partners to integrate Monedo's credit products via an API into their own platform and services.Founded in 2012 and headquartered in Hamburg, Germany, Monedo covers more than 5 markets worldwide, amongst others Russia, Mexico, Spain and Poland. Up until now, the company has processed more than four million loan applications through its subsidiaries. Monedo's team of more than 350 people is led by CEO and Co-Founder Alexander Graubner-Müller and is financially backed by world-class investors including PayU, J.C. Flowers, Peter Thiel, and the World Bank’s IFC.
Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
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Dec 15, 2016 | Corporate Round | $10.40M | 1 |
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— | Detail |
Jan 27, 2014 | Debt Financing | $10M | 1 |
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— | Detail |
Sep 15, 2013 | Debt Financing | $5M | 1 |
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— | Detail |
Jun 1, 2012 | Seed | $1M | 1 | — | — | Detail |
Mar 4, 2012 | Seed | — | 2 | — | — | Detail |
Investor Name | Lead Investor | Funding Round |
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Yes | Corporate Round |
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Yes | Debt Financing |
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— | Seed |
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— | Seed |