Why We Invested in Monnai

Why We Invested in Monnai
Originally published by Nihar on LinkedIn here.

Thrilled to announce our investment in Monnai!

Fintech expansion into emerging markets is a massive opportunity that promises tens (if not hundreds) of millions of new customers.

However, both fintechs and financial institutions are increasingly recognizing how big of a cost and reputation problem loose onboarding and identity standards can be.

Unfortunately, in these markets, identity standards and customer data are fragmented, disparate, and evolving. This unstructured fragmentation is spread across telecom providers, emerging credit bureaus, 3rd party data providers, and financial institutions.

Through a network of data providers, bureaus, and consumer insights partners, Monnai is delivering an off-the-shelf API that provides clean and structured identity and fraud insights in near real-time. Much like what Prove or Socure do in western markets, Monnai is attempting to do, and has already partnered with fintechs and FIs across South Asia, Latam, and APAC. 

We’re excited by Monnai’s ability to vertically integrate both data aggregation and orchestration solutions into one single offering. And we believe that this makes Monnai the go-to partner in emerging markets to help fintechs and FIs deliver financial products that are accessible, while keeping cost of customer acquisition and servicing low. 

At scale, we expect Monnai to complement credit bureaus globally and be offered as an alternative in areas or regions where bureaus cannot best serve.

If you are a fintech or financial services company looking to expand into new international markets, or looking to strengthen your fraud and decisioning systems... Get in touch with the Monnai team!

Nihar is a Principal at BTV, which also runs The Mint, the pre-seed program for fintech founders. They accept applications and introductions on a rolling basis. Nihar was also Co-Founder of Wizely.