Fintech & Ecommerce

Monnai Raises $6.5 Million to Help Fintechs Use Consumer Data

Monnai, a provider of consumer insights infrastructure for financial institutions, announced the attraction of $6.5 million in investment funds following the results of the Series A financing round.

Monnai Raises $6.5 Million to Help Fintechs Use Consumer Data

Source: Pixabay.com

This round of financing was led by Tiger Global. Also, part of the investment funds was provided by Better Tomorrow Ventures, 500 Global, and Accenture Ventures.

Monnai startup currently pursues a more than a bold goal, which is, as the company’s representatives abstractly express, to become the only source of truth for decision-making in the field of fintech. The firm intends to become a global market leader.

The platform of this startup is a single space where all possible data sources concerning the functioning of the fintech industry are collected. The company provides its clients with navigation tools that allow them to quickly identify signs of fraudulent activity and respond to any changes in the state of affairs in the sphere that relate to the regulation of intra-industry processes.

Adaptive infrastructure provides four key decision-making modules that are aimed at maximizing the study of customer needs in their dynamics, making credit decisions, optimizing fees, and solving the problem of trust, ignoring which means a high risk of fraud. The resulting infrastructure uses more than 350 contextual data, including information about payments, communication, device, and identification.

All of these solutions exist in order for customers to have access to a full-fledged information picture, with which they can make informed decisions with positive consequences. The startup provides data relevant to all aspects of financial activity.

Pierre Demarche, CEO of Monnai, said that in a world that is focused on the development and implementation of digital technologies in all spheres of life, any business is a fintech. He also noted that enterprises around the world are developing powerful capabilities, using more and more data for decision-making.

As we have reported earlier, Candidly Raises $20.5 Million for Student Debt and Savings Optimization.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.