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Mexican On-Demand Pay Provider Minu Raises USD $30M

Nimu co-founders / Nima Pourshasb, Rafa Niell and Paolo Rizzi

Mexican fintech startup Minu, provides companies with a platform to manage all their employee benefits. Some of the core features include training plans and videos for fitness and meditation, virtual personal finance courses, donations to social causes and communication tools.

Clients can also pick extra modules to implement. This includes on-demand salary, which allows employees to get early access to their earned wages. Minu also offers savings, loans, discounts, payments and payroll dispersion. Employees can also get free online health consultations as well as access to insurance services.

They're currently working with over 350 companies in Mexico, including Rappi, Coppel, Grupo Modelo, and Tecnológico de Monterrey.

The startup founded by Nima Pourshasb, Rafa Niell and Paolo Rizzi in 2019 recently raised a USD $30M round. The round was comprised of USD $20M in debt from Accial Capital, followed by a USD $10M bridge round from Coppel Ventures, Besant Capital, Enea Capital, FinTech Collective, QED and Salkantaray.

Minu said in a statement that the resources will allow it to continue its accelerated growth and continue to grow in Mexico.