Monnai

Overview
News
FinTech Infrastructure?
Product stageSegments
Seed
?
Fraud prevention, Lending-as-a-service (LaaS)
?

Monnai offers an API-based platform for FinTechs to access data from credit bureaus, as well as alternate data and standardized personal identification data providers, to enhance their onboarding/know-your customer (KYC), trust and fraud risk, credit decisioning, and debt collection offerings. The platform is reportedly built with an explainable artificial intelligence (XAI) component, which can interpret historic biases, identify features with positive and negative attributions to model behavior, retroactive model comparisons, and continue model evaluations.

Monnai leverages over 350 insights (as of September 2022) across identity, digital, communication, device, and payment data partner ecosystems. It further claims that users will have access to behavior data from more than 5 billion consumers. The platform is designed to be a global infrastructure platform and has data and aggregation infrastructure spanning over 40 countries.


Key customers and partnerships

Monnai is used by FinTechs across several verticals - such as lending, payment, BNPL, and embedded finance - spanning across India, Southeast Asia, and Latin America, as of September 2022.

Funding and financials

Monnai raised USD 6.5 million in Series A funding in March 2023, led by Tiger Global, less than six months after the company raised USD 3.2 million in seed funding. The funds were earmarked for investment in business development and further developing its proprietary analytics and data ingestion capabilities.

HQ location:
San Francisco CA USA
Founded year:
2021
Employees:
11-50
IPO status:
Private
Total funding:
USD 10.7 mn
Last Funding:
USD 6.5 mn (Series A; Mar 2023)
Last valuation:
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Company profile
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