Moni (IFC-38704)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 25, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MONI
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Sep 23, 2016


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Project Description
The proposed project consists in an up to US$3 million equity investment in the Series B Equity Funding Round in Moni (“the Company”), a mobile wallet and financial services provider in Argentina to expand their operations that help to extend financial services to underbanked and increases efficiency in the country’s financial services market.
Investment Description
  • International Finance Corporation (IFC)
The project sponsors are Alejandro Estrada (Founder & co-CEO) and Juan Pablo Bruzzo (Founder and co-CEO). Alejandro Estrada was formerly CEO & Board Member of Banco Privado (sold to Banco Macro), Founder & Co-CEO of DineroMail, I-billionaire, and investor on several internet ventures. Juan Pablo Bruzzo was formerly Marketing VP at DeRemate, also co-Founder and co-CEO of Dinero Mail and an investor on several internet ventures.
Contact Information
Local access to project documentation: Ale Estrada, co-CEO mailto:estrada.ale@gmail.com Juan Pablo Bruzzo, Co-CEO jp@moni.tv Finven Latam Inc. / Moni Patagones 2665, 5A Ciudad Autónoma de Buenos Aires, Argentina moni.com.ar/ Tel: +5411 5263 3647 For inquiries about the project: Leila Search, Investment Officer Financial Institutions Group IFC 2121 Pennsylvania Ave NW Washington DC 20433 +1 202-473-7511 mailto:LSearch@IFC.ORG ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/