Mono

What Mono does

Mono Colombia S.A.S. is a Bogotá-based fintech infrastructure provider, founded in 2020, that exposes the Colombian banking network to businesses via APIs without requiring clients to obtain a banking license. The platform is organized as four product pillars—Tarjetas (virtual and physical Visa debit cards with programmable balance and real-time spending controls), Billetera (white-label digital wallets), Dispersiones (mass payouts to suppliers and employees), and Bre-B (instant interbank payments via Colombia's central-bank-operated real-time payment scheme). Underneath these end-user products sits a three-layer API surface: a Banking API for account management, ACH/Transfiya/Turbo transfers, PSE collections, and card operations; a Core API for programmable double-entry ledger, card issuing, and spending controls; and a Bre-B Participant API using OAuth 2.0 authentication. Mono operates as a correspondent digital provider for Banco Cooperativo Coopcentral S.A., allowing it to offer regulated deposit accounts and payment cards under the partner bank's license and supervision by the Superintendencia Financiera de Colombia.

The company monetizes through a tiered subscription model (approximately COP$399,900 + IVA per month for new users since November 2023, with waivers for clients meeting high-volume thresholds) plus transaction fees on PSE collections (2.65% + COP$900 for amounts below COP$500K, flat COP$15,000 above), per-transaction transfer fees (COP$1,990 for Turbo, COP$2,500 for ACH), and a 1% commission on foreign-currency card transactions. Go-to-market combines API-first developer relations through docs.mono.la, Spanish-language content marketing targeting Colombian enterprises, and direct sales with a 24-hour response promise. Disclosed scale includes US$1B+ processed, 6M+ transactions, and 200+ companies across named customers such as D24, Dropi, Denario, Koywe, and Megaincentivos. In January 2026 the broader Mono group was acquired by Flutterwave in an all-stock deal valued between US$25M and US$40M, with the Colombian entity continuing to operate independently under Flutterwave ownership.

Name

Mono

Legal name

Mono Colombia S.A.S.

Website

https://mono.la

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Mono Colombia S.A.S. is a Bogotá-based fintech infrastructure provider that gives Colombian businesses API access to banking rails—including PSE collections, ACH, Bre-B instant payments, card issuing, and a programmable ledger—without requiring a banking license, operating via a correspondent arrangement with Banco Cooperativo Coopcentral.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service and Embedded Finance Infrastructure

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Banking infrastructure API
• Embedded finance platform
• Card issuing services
• Payment processing API
• White-label digital wallets

Headquarters

HQ city

Bogotá

HQ country

Colombia

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Platform Subscription: Monthly subscription fees for access to Mono's technology platform. Legacy users (pre-November 2023) pay COP$29,900 + IVA monthly with basic features. New users pay COP$399,900 + IVA monthly, which includes API access, up to 25 cards (20 virtual, 5 physical), and 5 physical card shipments. High-volume users can qualify for subscription waivers by meeting minimum transaction thresholds.
2. Payment Collection Fees: Transaction fees charged on collection links (Link de cobro) processed through PSE. For amounts below COP$500,000: 2.65% + COP$900 + IVA. For amounts above COP$500,000: flat COP$15,000 + IVA. This applies to businesses collecting payments from customers.
3. Transfer Fees: Fees for outbound bank transfers. Turbo Transfers (real-time) cost COP$1,990 + IVA per transaction. ACH transfers cost COP$2,500 + IVA per transaction.
4. Card Issuance and Shipping: Fees for issuing additional physical cards beyond included allocation. For legacy subscribers: COP$29,900 additional per physical card. For new subscribers: COP$19,900 additional per physical card beyond the 5 included shipments.
5. International Transaction Fees: 1% commission on transactions conducted in currencies other than Colombian Peso when using the issued card. Mono discretionarily sets the foreign exchange conversion rate.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Mono provides API-based banking infrastructure that lets Colombian businesses embed financial products — including virtual and physical Visa cards, white-label digital wallets, mass payouts, and instant Bre-B interbank payments — into their own platforms without obtaining a banking license. The offering combines a Banking API, a Core API with a programmable double-entry ledger and card issuing service, a Bre-B Participant API for real-time payments, and user-facing products (Tarjetas, Billetera, Dispersiones) accessible via a self-service dashboard and sandbox environment.

Product overview

Mono is banking infrastructure for Latin America, providing a modular platform that allows businesses to connect to the Colombian banking network—including Bre-B instant payments—without becoming a bank. The product suite consists of three core service layers: (1) Banking API for account management, transfers (ACH, Transfiya, Turbo), PSE collections, and card operations; (2) Core API for programmable ledger, card issuing, spending controls, and payouts; and (3) Bre-B Participant API for instant interbank payments. On the end-user facing side, Mono offers Tarjetas (virtual and physical Visa debit cards), Billetera (white-label digital wallet), Dispersiones (mass payouts), and Bre-B integration. The platform is accessible via API and a self-service dashboard.

Differentiator

Problem solved

Functional benefit

Products and services

• Tarjetas (Cards) Virtual and physical Visa debit cards with programmable balance and real-time spending controls; businesses can issue multiple cards with custom rules (limits, merchant categories, custom policies) to their end users. Sold to Colombian businesses looking to embed branded card experiences.
• Billetera (Wallet) White-label digital wallet solution that enables businesses to offer branded virtual accounts, Visa cards, transfers between wallets and banks, and balance and movement queries to their end users. Sold to Colombian businesses that want to deploy a wallet under their own brand without custom development.
• Dispersiones (Payouts) Mass payment and disbursement service enabling businesses to send payments to multiple providers from any bank or wallet, with automation capabilities for payroll and bulk transfers via ACH, Transfiya, Mono Turbo, and Bre-B rails.
• Bre-B Participant Integration Integration with Colombia's Bre-B instant payment scheme, sold as a participant service enabling businesses to send and receive real-time interbank payments and collections via QR codes and direct transfers through Mono's infrastructure.
• Banking API API service for banking operations including account management, bank transfers via ACH/Transfiya/Mono Turbo, PSE collections, and banking card issuing and management. Sold as a standalone API to developers and businesses integrating Colombian bank accounts and payment rails.
• Core API API service for programmable double-entry bookkeeping ledger, virtual and physical card issuing, real-time spending controls, and payouts. Enables businesses to hold balances for users in a fully auditable ledger and manage card-based spending programs.
• Bre-B Participant API API service for sending and receiving instant interbank payments via the Bre-B system, using OAuth 2.0 client credentials authentication and supporting QR-based collection and outgoing instant transfers.
• Mono Ledger API Ledger management API that allows businesses to integrate and customize a wallet into their product, supporting double-entry bookkeeping with accounts, transactions, holds, settlements, and reconciliation.

Quantifiable outcome

• Companies can launch financial products in weeks rather than months
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• FlutterwaveflagshipStrategic or Co-development Partner · 5 January 2026Flutterwave, Africa's largest fintech company, acquired Mono in an all-stock transaction valued between $25-40 million. The acquisition strengthens Flutterwave's vertical integration and expands its fintech infrastructure offerings. Mono continues operating independently under its current leadership while gaining access to Flutterwave's resources and market presence.
• VisacoreTechnology or IntegrationMono issues Visa-branded virtual and physical cards. This partnership enables card issuance capabilities for Mono's white-label wallet solutions and spending control features, leveraging Visa's global card network infrastructure.
• Banco Cooperativo Coopcentral S.A.coreTechnology or IntegrationMono operates as a correspondent digital provider for Banco Cooperativo Coopcentral. The bank is supervised by the Superintendencia Financiera de Colombia and provides deposit insurance through Fogafin. Mono enables its users to access banking products (deposit accounts, payment cards) under the bank's regulatory framework.
• Bre-B (Banco de la República)coreTechnology or IntegrationMono is a Bre-B participant, integrating with Colombia's instant payment scheme operated by the Banco de la República. This enables Mono to offer real-time interbank payments and collections via QR codes and direct transfers.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Belvo: Latin American open-banking API platform enabling account connectivity and A2A payments across Mexico, Brazil, and Colombia. Directly competes with Mono on multi-bank data access and payment initiation rails in the Colombian market.
• Pomelo: LatAm BaaS platform providing card issuing, digital wallets, and embedded finance APIs through sponsor-bank partnerships. Closely comparable to Mono's correspondent-bank model and card/wallet stack across Latin America.
• Kushki: LatAm payments and embedded finance infrastructure covering acceptance, disbursements, and card issuing across multiple Andean and Central American countries. Competes with Mono in Colombian payment acceptance and disbursements.
• Yuno: LatAm payment orchestration and orchestration-plus-issuing platform serving merchants and platforms across the region. Competes with Mono on payment acceptance infrastructure and increasingly on embedded finance APIs.
• Tribal: Emerging B2B embedded finance provider in Latin America focused on SMB credit cards and corporate expense products. Comparable to Mono's card-issuing and spending-controls proposition targeted at Colombian businesses.

Broad incumbents

• dLocal: Public cross-border payments platform with deep LatAm coverage. Overlaps with Mono on payment connectivity in Colombia and broader LatAm, though dLocal is far larger and serves global merchants rather than Colombian SMBs.
• Plaid: Global open-banking and account-connectivity platform. Provides the analogous category of API-driven bank connectivity that Mono offers in Colombia, and its expansion into international markets overlaps strategically with Mono.
• Marqeta: Public modern card-issuing platform powering program managers globally. Mono's card-issuing service on Visa rails is functionally similar to Marqeta's API-driven issuance, though Marqeta operates at substantially greater scale.

Regional players

• Wibond: Argentine-focused B2B BNPL and embedded credit platform. Comparable to Mono as a LatAm BaaS-style provider but operating in a different national market with a credit-led rather than payments-led model.
• Bold: Colombian payment-acquirer and SaaS provider for SMEs. Competes with Mono at the merchant acceptance and disbursement layer within Colombia, though Bold primarily serves in-person POS rather than API-embedded use cases.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cuentamono
• Xx.com/mono_empresas

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mono