mundi

Mundi is a financial services platform specializing in cross-border trade solutions for small and medium-sized enterprises, with a primary focus on Mexican exporters. Founded in January 2020 and launched in July 2020, the company is headquartered in New York City with operations in Mexico City. Mundi provides a comprehensive suite of trade finance services including invoice factoring, working capital financing, foreign exchange management, cargo insurance, and international payment processing. The platform addresses critical pain points for SME exporters by providing upfront payment for invoices, eliminating the need to wait 30 to 90 days for buyer payments. This non-recourse factoring service absorbs the risk of non-payment by international buyers. Mundi also offers multi-currency management with forward contracts and spot exchange rates, allowing companies to hedge against currency fluctuations up to one year in advance. Additional services include virtual US dollar accounts for Mexican companies and cargo insurance with rates starting at 0.2%. The company has facilitated cross-border trade with over 40 countries and processed more than $120 million in invoices by December 2021. By September 2023, Mundi was processing approximately $14 million monthly in non-lending products and was on track to surpass $1 billion in total payment volume. The company has raised over $125 million in combined debt and equity financing, including a $16 million Series A led by Union Square Ventures in February 2022, an additional $15 million Series A-2 led by Haymaker Ventures in September 2023, and a $100 million warehouse facility from Silicon Valley Bank. Mundi was recognized by Forbes Mexico as one of the 30 business promises of 2024.