Monto
Monto is a fintech company based in Monterrey, Mexico, offering on-demand salary access and financial services across Latin America. The company, part of Y Combinator's S21 batch, also provides a discount card and partners with CHUBB for auto insurance.
Company Overview
Monto is a fintech company based in Monterrey, N.L., Mexico, with operations that extend remotely. Launched in July 2021, Monto participated in Y Combinator's S21 batch and has a team of 13. The company serves the Latin American market, providing access to earned wages on-demand for employees of affiliated companies for a low fixed fee. Monto is dedicated to improving financial liquidity for workers, enabling instant salary access in a user-friendly manner.
Services
Monto offers a salary on-demand platform aimed at employees of companies in Latin America. Through this platform, employees can access their earned wages as needed, with a low fixed fee. Additionally, Monto provides financial education content to promote good financial practices among users. The service aims to enhance financial flexibility and support better money management among employees.
Discount Card
Monto provides the Monto - TDU discount card, available for $290 MXN including VAT. This card offers access to discounts and promotions in over 10,000 establishments. Benefits include courtesy services, 2x1 promotions, and preferential prices on medical services. Cardholders can access these benefits via the TDU app and website, making it easy to find and use discounts on the go.
Insurance Partnerships
Monto partners with CHUBB to offer auto insurance policies. Customers can benefit from a 30% discount on these policies, making car insurance more affordable. This partnership is part of Monto's broader effort to provide valuable financial products and services that enhance the financial well-being of its users.
Regions of Operation
Monto operates in Mexico, Latin America, and offers fully remote services. The company is headquartered in Monterrey, N.L., Mexico, but serves a broad geographic region through its remote capabilities. This allows Monto to effectively reach a wide audience, enhancing its ability to offer financial solutions across different locations.