Monto

Monto is a Mexican fintech company that operates a comprehensive employee benefits platform designed to improve financial wellness and retention for workers in Mexico. Founded in 2020 by Karina Derbez and Andres Quintanilla, the company participated in Y Combinator's Summer 2021 batch and is based in Monterrey, Nuevo Leon. Monto partners with employers and financial institutions to deliver a wide range of financial products and services to employees through a B2B SaaS model. The platform's core offering centers on salary-on-demand services, which allow employees to access their already-earned wages between paydays for a low fixed fee, differentiating this from traditional salary advances. Beyond earned wage access, Monto provides over 14 benefit modules including payroll loans ranging from 5,000 to 40,000 MXN with a maximum APR of 35 percent and terms from 6 to 36 months, insurance products, medical consultations, brand discounts, and educational programs. The platform is highly customizable, enabling employers to configure benefits based on employee location, position, seniority, or other criteria. Major Mexican retailers including Soriana and Farmacias Benavides use Monto to deliver employee benefits. The company addresses Mexico's significant financial inclusion challenge, where over 40 percent of the population lacks access to traditional financial services and approximately half struggle to cover daily expenses with regular income throughout the year. Monto's technology integrates with employer payroll systems to simplify adoption and reduce administrative burden while providing employees 24/7 access through mobile applications available on iOS and Android platforms. The company has raised approximately 1.88 million USD from investors including Y Combinator, First Serve Partners, Blue Zone Ventures, and Arrebol Capital.